Portugal Telecom: A Lot To Like
By Sammy Pollack:Shares of Portugal Telecom (PT) are down sharply over the past year as investors have sold anything Eurozone related. However, PT is now an interesting speculation.(click to enlarge) (Yahoo)
At the end of June, PT announced it was cutting its dividend in half for fiscal years 2012-2014. The company will pay out 32.5 euro cents per share. This means that PT will pay a dividend of roughly 10%. While there are other European telecom plays such as Telefonica (TEF), and France Telecom (FTE) that have a higher current yield, the chances of a dividend cut remain high. The fact that PT is still able to pay a significant dividend shows that despite the economic issues in the country, PT is still very profitable.
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