Way to Stick It to Me, Seagate

Late yesterday, the company issued upbeat fiscal third-quarter guidance and reinstated its dividend policy. Seagate quit paying dividends in 2009 to shave costs and avoid what appeared to be an irreversible slide toward bankruptcy. No longer. Seagate expects $2.7 billion in fiscal third quarter revenue. Analysts had been calling for $2.62 billion in revenue, Barron's reports. The company's $0.18 per share dividend, payable on June 1 to those holding shares as of May 2, amounts to a 5% yield when annualized.... Read more