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To: orkrious who wrote (35698)7/7/2003 2:10:38 AM
From: rails99  Read Replies (1) | Respond to of 74559
 
Hi Okrious: Not sure as to actual dividend 4% to 8%, but did the numbers at 7% and the dividend looks to be earned anywhere from 10 to 20 times. That includes the worst year gross sales to best year sales AND includes the coverage on new bonds, as yet not issued (bond issue perhaps to be $5.5 billion total).

I am not totally sure of the numbers and would appreciate it if someone would double check. Then again, I did not include any off balance sheet information, HA! Bondholders can be good for a company when the common is strong too; by increasing liquidity of the balance sheet without distressing cash flow.

Best Wishes;
Rails