The public filings show that Pat owns 96,049 Intel shares directly, and another 266,530 shares through trusts. Pat took at ~$300k base pay cut to save a $565k yearly dividend payout for himself. Words cannot describe how shameful his behavior is. He's a charlatan.
7 replies (most recent on top)
People at Intel are overpaid for what they deliver. Pay cuts must be intensified going forward. I still possess RCUs and ESPPs (left Intel 4 years ago after 22 years of service (without a package)) which got hammered the last year. Without dividends Intel would become a penny stock …
"INTC should be investing the free cash flow in its future and its people."
I lost count on how many Israeli start ups they have bought.
INTC is down 50+% from the peak, so even with the fantasy that the dividend is holding it up, it is a turkey. I know that's the thought that the "big institutions" are with INTC for the dividend and they'd flee if INTC cuts it -- that is naive, "big institutions" see INTC lost 50+% of their capital, they see how much cash the dividend costs INTC, and they see how much cash and FCF INTC has on the books - and what that means for the future of the dividend. When a dividend is paid the stock price drops by that amount -- it is a zero sum game. Sure on the margins you have investors that only look at dividend yield, but that's d-mb money. INTC should be investing the free cash flow in its future and its people.
This is MBA orthodoxy. What you learn in b-school is that if you offer a dividend, you never cut it because the investors will punish you hard. Companies that usually offer dividends are not growth stocks (they don't really grow in revenue or stock price because the company is old/stagnant). So only big institutional investors that sacrifice high return for low risk invest in your company. If you take away the dividend, you take away the only thing that is attracting these big institutional investors. Then see your stock price crater.
People come here to feel better from the battering they take at Intel.
If you are so happy to be in Intel, why are you even coming here and call out people as "moaning and bi-----g"?
The comment is that the narrative is incorrect -- this is a choice by upper management to continue get theirs at the expense of the rank and file.
Nothing about being underpaid -- I agree most are still objectively overpaid for the results delivered.
If you are so underpaid leave the org, instead of moaning and biching out here