Dividends
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Dividends and Poker
When playing poker you receive rakeback from the poker
rooms. Meaning part of the poker room earnings go back to the players. Rakeback is a dividend from the poker room to the
player as a loyalty bonus for playing with them.
Ingersoll Rand (IR) Slashes Dividend
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Ingersoll Rand’s (NYSE: IR) Board of Directors authorized a reduction of the quarterly common dividend to $0.07 per share from $0.18 per share, effective with the September 2009 dividend payment. The dividend reduction will make $70 million of additional cash available for pay down of debt balances in 2009 and $140 million available in 2010.
“We are confident that the coordinated actions we took in the quarter will enhance liquidity and position the company for future growth,” said Mr. Henkel. “These actions, combined with the strength of our cash flow generation capability, will facilitate our debt reduction programs and allow us to continue investing in innovative new products and services. The company is ahead of its working capital reduction targets and expects to reduce total financing by $675 million in 2009.”[SM]
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