Go to Jeff Salisbury LWGate Home Page.From: JANSI1AUG1@aol.com
Subject: [CANSLIM] Re. A Possible Signal To Unscrupulous Bookeeping
Date: Mon, 18 Feb 2002 10:05:58 EST
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Canslimmers:
I know not many (if any) high growth stocks have dividends, but this
item from James Glassman (in techcentralstation.com) might be useful in
identifying another Enronic-Bookeeping-Wonder (I wonder, appropos of this,
what Enron's cash-flow was?):
"...Enron paid dividends all during the period when it now admits that it was
overstating earnings, but those payouts were curiously flat at a time when
the company's reported profits were soaring. For example, between 1997 and
2000, earnings rose 69 percent but dividends rose just 9 percent. That could
have been a sign that something fishy was happening. A company might be able
to fake out analysts by booking today paper profits that might possibly occur
in the future. But dividends aren't entries on the ledger; they're real
money. A company that consistently raises its dividend is almost always a
well-managed company in a strong market niche...."
jans
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