Holy Special Dividends: Tellabs
Trading halted on Tellabs Inc (TLAB) this afternoon after the company announced an incredible $1 special dividend per share. Mind you that when trading halted TLAB was at $2.95. You can bet this stock is going to the races once it starts trading again.
This is crazy pills and easy money -- straight from NASDAQ.com:
Tellabs Inc. (TLAB) announced that its board declared a special cash dividend of $1 per share. The dividend is payable on December 21 to stockholders of record as of the close of business on December 14.
The company stated that the special dividend is in addition to a stock repurchase announced on November 20. The company intends to repurchase its common stock under an existing Board of Directors authorization, previously announced on November 8, 2007. The company may repurchase up to $224.6 million under the previously announced repurchase program.
The company added that it plans to use part of its $942 million in cash, cash equivalents and marketable securities for the program. The company has no debt.
Fellow Masters, this is an unbelievable deal. Buy shares before Dec 14th if you want to play this action.
Tellabs special dividend is more than 33% of its current share price. You pay less than $3 (provided you can buy it that cheap after trading resumes) and get a $1 dividend one week later? If Tellabs is crack right now then hand me the pipe because I am about to smoke it. Thank you Pookie.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Cozy Relationship Between The Treasury And The Fed | ZeroHedge
- USDJPY Entirely Ignores Yet More Jawboning From Japanese Offcials | ZeroHedge
- The First Warning Sign That Cushing May Be About To Overflow | ZeroHedge
- Economics Explained (In 1 Simple Cartoon) | ZeroHedge
- Worth Wray on the Single Most Dangerous Catalyst for a Global Financial Crisis | Financial Sense
- All Job Gains Since December 2007 Have Gone To Foreign-Born Workers | ZeroHedge
- LinkedIn Collapses Below IPO-Day Highs | ZeroHedge
The most relevant financial news and articles from the Internets
- 20 incredible perks companies like Airbnb, Facebook, and Google offer... | Business Insider
- This vial of blood is the most controversial piece of evidence in the 'Making a Murderer' mystery... | Business Insider
- Roger Goodell downplays the dangers of football: '... | Business Insider
- Amazon's robotics group is working on a mysterious wireless... | Business Insider
- Johnny Manziel is being investigated by Dallas police over a... | Business Insider
- You can now watch Amazon's first original movie on... | Business Insider
- A Harvard psychologist shares a tip shy people can use to ace a... | Business Insider