Federal Signal Corporation (FSS) was founded more than 110 years ago and has always been committed to advancing security and safety of society and businesses, earning its reputation by producing electronic sirens for World War I and World War II. The company has managed to survive and thrive for more than 110 years, but had to drastically lower dividends during 2003 to 2005 and has kept the dividend low and flat ever since. In 2010, it cut the dividend entirely and never paid it again.
Federal Signal is still mired with high debt levels around 112% of its book value and 26% of its market cap. Its cash levels are miniscule. In 2012, FSS divested part of its...
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