Intel's Board Stares Down Critics, Declares Quarterly Dividend Payout
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While the financial analysts and pundits were giving it a thumbs down, Intel Corp (NASDAQ: INTC) showed investors that it remained a stalwart believer in its own value when it issued a statement on Thursday morning that affirmed the company’s commitment to pay out a dividend.
Specifically, the company’s Board of Directors declared a 12.75 cents per share quarterly dividend on the company's common stock, the statement said.
On Tuesday, Intel announced that its fourth-quarter revenue reached the record level of $10.7 billion and that its operating income for 2007 grew 45 percent.
“2007 was a breakthrough year for innovation at Intel. We realized the benefits of our investments in new products and our efforts to drive efficiencies,” said CEO/President Paul Otellini in Tuesday’s statement.
“We enter 2008 with the best combination of products, silicon technology and manufacturing leadership in our history,” he added.
Nevertheless, TheStreet.com’s famed stock picker Jim Cramer said Wednesday on its website’s video words to the effect that he would sell Intel stocks and buy Hewlett-Packard (NYSE: HPQ) instead of the former (watch the video of Cramer’s take on Intel).
In early afternoon trading on Thursday, the markets seemed to be heeding Cramer’s sell advice while ignoring Intel’s upbeat statements, since the share price was down to $19.52 from the previous closing price of $19.88.
NewsVisual decided to create an IntellectSpace Knowledge Map in order to illustrate the business connections of Intel’s Board of Directors as a method for assessing their knowledge of business and for determining the likelihood that the company is on the right course for future earnings growth.
The Knowledge Map shows that eight of Intel’s Directors are currently serving on the boards of other companies, which suggests that they have the collective experience necessary to make sound earnings forecasts.
In fact, the following Intel Directors serve on at least three other corporate boards:
Director Charlene Barshefsky, a former Ambassador who was the United States Trade Representative from 1997 to 2001, is also a Director to the American Express Co, The Estee Lauder Companies Inc, and Starwood Hotels & Resorts Worldwide Inc; Director John L Thorton is also a Director for the Ford Motor Co, News Corp, and Pacific Century Group; and Director D James Guzy, aside from being the Chairman of SRC Computers Inc, is also a Director for AllianceBernstein Holding LP, The Davis Funds, and PLX Technology Inc.
(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).
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