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
- Venezuela Stops Publishing Money Supply Data For Obvious Reasons | ZeroHedge
- Retail Nightmare Just Won't End: Sears Crashes On "Going Concern" Warning, Payless To File Bankruptcy In Days | ZeroHedge
- 5 Reasons Why You're Living In The Strangest Time In Human History | ZeroHedge
- Avi Gilburt: Major Whipsaws Ahead | Financial Sense
- Don Coxe on Brewing US Pension Crisis, Stimulus vs. Rising Rates | Financial Sense
- THe CaSTaWaY... | ZeroHedge
- Conservative Koch Brothers Urge Resistance As Trump Faces Pivotal Obamacare Vote Tomorrow | ZeroHedge
The most relevant financial news and articles from the Internets
- Here's what the future holds for ESPN Films after winning an Oscar for its... | Business Insider
- China could be the next big influencer in the Middle East | Business Insider
- The Trump administration has started naming and shaming '... | Business Insider
- Studios are flirting with offering movies early in home for $30 | Business Insider
- A gigantic ring of galaxies could... | Business Insider
- A waiter reveals what it's really like to work on a luxury cruise ship | Business Insider
- 4 ways financially supporting your adult children could ruin your retirement | Business Insider