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...remorse. "It's worked out splendidly," says John Hodowal, chairman of Ipalco Enterprises, based in Indianapolis, Ind., who last year short-circuited the dividend by 32% and immediately bought back 22% of outstanding shares. What's so splendid? Last year Ipalco shares, including dividends, returned 58%--double the Dow and triple the average utility. A Florida power company, FPL Group, was the first healthy utility to take the step, in 1994. Its stock too has dazzled...
...approaching when all kinds of thriving companies will ditch their dividends and use the savings to buy back stock to boost their share price. Specialty toolmaker SPX Corp., in Muskegon, Mich., made the move last April. Lo and behold, the stock has been rising twice as fast as the Dow...
...companies to step up next. Who might make the bold move? Among the giants, companies like Wal-Mart, Disney and Home Depot are good candidates. They are fast growing and pay woefully small dividends anyway. Disney, for example, has the lowest dividend yield of the 30 companies in the Dow, at 0.55%. You couldn't feed a mouse on that...
Business Bytes Friday blues for the Dow. Market wraps in FORTUNE Business Report Get the numbers anytime, by index or stock by stock
Business Bytes European markets are flying into the stratosphere, with the Financial Times 100 in London growing a percentage point a day, says MONEY Daily. The Dow was up again Thursday. Market wraps in FORTUNE Business Report Get the numbers anytime, by index or stock by stock