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Wall Street Hates CenturyLink's Dividend Cut; Company Punished for Upgrade Spending ·
CenturyLink’s stock is being pummeled after the company announced a cut in divided payouts to shareholders earlier this year, preferring to keep the money in-house to reduce debt and increase spending on necessary broadband upgrades. Last fall, CenturyLink stock was trading for over $23 a share. By January, rumors that CenturyLink was going to cut …