The austerity for workers at Seagate will continue to ensure the dividend gets paid. Count on more layoffs, less benefits and more paycuts. Chrome Dome knows he will continue to keep his job and get his $15 yearly compensation (Bonuses and stock options) as long as his chronies on Wall Street get their dividend. Don't be fooled by his "no salary" for the next XX years BS. The board will just give him a few more hundred thousand shares each year at $2.30. He'll come out ahead. Seagate is just a holding company to pay a dividend. Without it, stock will crash. Look for less investment, less for the employees, building selloffs, and anything else they can do to strip mine the company to keep the dividend train going.
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@1tzc+1moV7i1Q: WD cut it's dividend to be able to make it's debt payments related to the SanDisk acquisition- not to convince Wall St that it's suddenly a growth company. As an employee who gets peanuts in stock compensation, why do I care about stock price and dividends? The BOD and Execs care wayyyy more about shareholders and themselves than about the employees who make the product. Ultimately yes, I don't see a way back for Seagate if the company simply stays the course.
Feels like workers are not only sacrificing to pay the dividend but will be taking it in the shorts to pay the debt and fine now.
@udm+1moV7i1Q WD cut its dividend to invest in their business and pay down debt. Apparently their new executive leadership believed they could convince Wall Street they were a growth company and look where they ended up, looking for a merger or sale of their parts or all of their business. there’s something fundamental than paying or not paying a dividend failing these two companies.
I don't see the issue as they HAVE a dividend as much as it is the AMOUNT per share. They refuse to throttle it down when needed.
If not for dividend why should investors invest in this stock, have some mind.
Is this an emerging technology or a high use technology. It’s just a junk technology like audio tapes which will vanish in couple of years
Last year they changed the stock vesting for shares awarded after July 2022. From that point forward it is have to hold for one year then 25% best, can sell. After that some shares vest every quarter. Before, each year 25% would vest on each one year anniversary.
How many shareholders own the debt
You're preaching to the choir here, everyone has been pointing out that the dividend is the cancer taking this company down for months now. Blame the shareholders and BOD.
Per Yahoo Finance, 88.62% of Seagate shares are held by institutional holders. The main reason they hold it is for the dividend. Many of these institutions are currently getting hammered in the commercial real estate market, and depend on the dividend cash flow from their holdings to shore up their Income Statements. Should Seagate cut or eliminate its dividend, they'll shift their money somewhere else where they can get a return. I have no direct way of knowing, but many Seagate executives probably have personal relationships with executives in these institutions. They'll sacrifice a lot of employees to keep their relationships with these people intact.
After pay cut, the salary level will get back to the level of 3 years back. Everyone can see that the price of daily life has move up a lot.
I saw the smile has gone from the face of those who signed the agreement. That's the body without soul. I can see the unhappiness and some of the resentment.
Attrition will inevitably go up as expected.