Filed under: General Electric (GE), Market matters, AT and T (T), Verizon Communications (VZ), BP p.l.c. ADS (BP), Stocks to Buy, Cramer on BloggingStocks

TheStreet.com’s Jim Cramer says they’ll soon become much more important.

So far, dividends haven’t done the job. Last night I recommended Weyerhaeuser (NYSE: WY) (Cramer’s Take) because I liked the transaction they made with International Paper (NYSE: IP) (Cramer’s Take) where they became much more of a pure timber play than before. They got rid of a commodity division with no growth for $6 billion, which they needed to pay down debt and fix up the balance sheet.

Once they did that this week, they became, in my eyes, the best play on a housing recovery with a great deal less risk because they pay almost a 4% dividend.

But I caveated the segment because I didn’t want anyone to think that a 4% dividend would stop it from coming down. It didn’t for AT&T (NYSE: T) (Cramer’s Take) and it didn’t for Verizon (NYSE: VZ) (Cramer’s Take) — those had to go to 5% to stop — and it hasn’t for BP (NYSE: BP) (Cramer’s Take) which blitzed right through the 5% level to 5.5%. I know BP is challenged when it comes to management. I know that BP is in the ETFs that could force it, on short-selling alone, to go to $55 before someone would say, “An oil company yielding more than 6%, let me at it.”

Continue reading Cramer on BloggingStocks: Dividends haven’t buoyed the good stocks

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