CBS Corp (NYSE:CBS)
CAPS Rating:
A mass media company with operations in the following segments: Television, Radio, Outdoor and Publishing.
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A mass media company with operations in the following segments: Television, Radio, Outdoor and Publishing.
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Their current dividend payout ratio is over 100%. Yes, I really did mean to write > 100% payout ratio.
All this is based on the comapnies estimated EPS for 2009 of $0.99, which will likely come down even further. I'm not sure if you realize that this industry is based mainly on advertising revenue, which if you haven't noticed lately has been getting absolutely crushed. Thus, CBS's current 109% payout ratio is likely to become even larger before all is said and done.
This leads me to believe they will have to substantially reduce their dividend, which is a bad omen for companies in this "safety first/ high dividend" investing environment.
This stock be coming down some more, just give it time...