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You know that buying a stock makes you part owner of a company, theoretically with millions of other people. But, while ownership has its privileges (at minimum you get a neat stock certificate and an invitation to the annual meeting), being an owner doesn't necessarily pay. Sure, you make money if the stock goes up, but only if you sell, and you can, in theory, lose all the value of your investment if the stock tanks.
Enter the dividend. Here, you get money simply from holding the stock. Companies pay a yield, which is expressed in a percentage based on the stock's price. For example, if a stock trades at $10, and pays a 10% annual yield, your dividend payment would be a $1. (Usually, companies break out the payments quarterly, so, using our example, you¿d get, well, a quarter each quarter.)
Companies that pay dividends fall into a few categories. First, you've got your big, stable companies that generate enough cash that it makes sense to throw some back to shareholders. Next, there are businesses, like real estate investment trusts, that are in the business of sitting back and receiving cash, then distributing it to holders. And, then there are companies that need to dangle a high dividend yield like a carrot to ease investor fears. Cigarette-maker Altria has been doing this for years.
Simply because a company pays a dividend doesn't make it a good investment. After all, you may want to take a chance on a growth stock that can move higher in price than dividend payers are known to do. But, you can¿t beat the safety of knowing that, even if a stock doesn't move in a year, you¿re at least making something off your investment.
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Tuesday, May 06, 2008
Bill Novelli to Remain CEO of AARP
Comtex
WASHINGTON, May 6, 2008 /PRNewswire-USNewswire via COMTEX News Network/ ----AARP announced today that Bill Novelli has accepted the offer from AARP's Board of Directors to remain Chief Executive Officer until January 2010.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070209/NYF043LOGO )
AARP's Board felt that Novelli's expertise and ability to lead were critical to retain as the all-important 2009 legislative session and new administration begins.
"Bill's steady hand has guided AARP through challenging and exciting times over the years, but the 2009 legislative session could be like nothing we've ever seen before," said Jennie Chin Hansen, AARP President. "An aging Baby Boom generation and our current health care and economic security crises present a new administration and congress with daunting challenges and will result in opportunities to solve these problems. We will need Bill's experienced leadership more than ever and we're appreciative that Bill has agreed to continue to lead."
Novelli led the organization through several critical campaigns including in 2003 to pass the Medicare Drug Bill, in 2005 to prevent the privatization of Social Security, and in 2007 to both create AARP's Global Network and launch Divided We Fail, a social movement founded by AARP, Business Roundtable, National Federation of Independent Business and the Service Employees International Union.
"When you have nearly 40 million members and they're standing with you, the impossible seems possible," said Novelli. "Together we've been able to achieve great things from groundbreaking legislation to AARP branded products and services that enhance the lives of people over 50, particularly in the areas of health and financial security. I couldn't be more proud of the great work AARP has achieved over the years and I look forward to the opportunities that exist for us and our nation."
In extending Novelli's contract, AARP also announced today that it is activating a transition process that has been developed over the last six months. This process will begin with the commencement of a nationwide search for Novelli's successor and will be led by AARP's Board.
"AARP has a thought-out transition plan to ensure the organization will continue to meet and exceed our member's expectations," said Jennie Chin Hansen. "We will soon begin a national search and will consider candidates both internally and externally, "she said.
Also, AARP Services, Inc. CEO Larry Renfro announced today he will return to Fidelity in Boston where Renfro began his career. Renfro will serve as Fidelity's President of Developing Businesses and a member of the Fidelity Executive Committee. As president of this new organization, Larry will oversee Fidelity HR Services Company, Fidelity Investments Life Insurance Company, Fidelity Charitable Services, ActionsXchange and Corporate Business Development.
"Larry spent the last several years developing and implementing AARP branded health and financial product portfolio and has provided affordable choices for our members that were not available in the marketplace before. His contributions to AARP Services, Inc. will hold great value for our members in the years to come," added Novelli.
About AARP:
AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 33 million readers; AARP Bulletin, the go-to news source for AARP's 39 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
About AARP Services:
AARP Services, founded in 1999, is a wholly owned subsidiary of AARP. AARP Services manages the wide range of products and services that are made available as benefits to AARP's 39 million + members. The offers span health products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance. AARP Services founded AARP Financial Incorporated, a subsidiary that manages AARP- endorsed financial products including AARP Funds. AARP Services develops new products, manages and markets products and services, creates and maintains partnership and sponsorship relationships, and develops and manages AARP's award-winning Web site, AARP.org.
SOURCE AARP
http://www.aarp.org
Copyright (C) 2008 PR Newswire. All rights reserved
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