Sirius XM Radio OKs $2 Bln Stock Buyback Plan, Special Cash Dividend of $0.05 per shr
I will be honest... i never thought this would happen. I don't think Sirius XM has any business borrowing money to buyback stock and issuing a dividend to shareholders. Can anyone convince me otherwise?
Also, I was 100% wrong as I told people this would never happen. I am still shaking my head in disbelief. I guess a congratulations to Sirius XM investors is in order. :confused:
On a side note, the trend of issuing dividends or special dividends is on the rise because of the tax savings. I suspect that maybe Apple will relinquish some if its cash. Maybe the telco's like Verizon and AT&T will issue a 1 time special dividend this month. Maybe Wal-Mart will too. If you guys love to make speculative trades, consider buying Apple, AT&T, Verizon for the possibility of a 1 time special dividend.