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Non-Tech : Pep Boys (PBY) Automotive Parts and Accessories
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To: Investor2 who wrote (83)4/1/1998 7:39:00 PM
From: LLCF  Read Replies (1) of 116
 
< In light of the fact that they have raised the dividend for 22 years in a row, I'm sure that they want to keep their dividend increase record in tact. Based on the Dividend Payout percentage, it certainly appears that PBY has lots of room to continue to raise the dividend.>

Although I agree with the first part of your statement, unfortunately that is probebly the only reason they increased the dividend. It has nothing to do with the companies performance, prudence of such a move, or their ability to do so. In fact, the payout stats you so kindly provided say just the opposite. The ratio has shot up to silly levels... very few companies ouside utilities have ratios like these.

Wall Street obviouly isnt fooled... they markets up a few hundred points in the past weeks and PBY is down big. Its down 1/2 point since the announcement of the dividend increase. The increase is a joke really, the street wants to see real operating improvements, not dividend increases.

DAK
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