Even in these difficult times, some companies are sitting on heaps of cash – and investors are beginning to demand they do something with it
In late 2000, I became the laughing stock of a high-tech conference when I asked the 400 executives present whether their companies would pay dividends once they achieved their business plans and were making the zillions they predicted. ‘Retained earnings and growth through acquisition,’ one laughed as he patted me sympathetically on the head. ‘That’s the way to see your share price explode.’Prophetic. The share prices of most of the companies at the conference
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