“Most CEOs don’t care about you,” Cramer told viewers during Monday’s Mad Money.
But Glen Post of CenturyTel does.
CenturyTel just announced a tenfold increase in its dividend. That came along with a modest increase in the company’s leverage target and an acceleration of a previous stock buyback program, Post said.
That previous buyback constituted about 90% of CenturyTel’s free cash flow since 2004, accounting for about 26% worth of the shares outstanding.
Oddly, though, CTL’s stock performance hasn’t mirrored the company’s strong performance. Hence, the dividend boost et al. Apparently investors want more than a stable wireline business, exposure to internet broadband and a move into wireless spectrum.
Cramer, on the other hand, had nothing but good things to say about CenturyTel.
"CTL – big dividend, buyback, growth,” he said. “Start buying.”
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