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CTL - Accounting Change Crucifies CenturyLink's First Quarter Revenue
CenturyLink Inc.
Summary
I own a fair chunk of CenturyLink (CTL) stock and would buy it in new accounts. The company's $1.00 annual dividend pays me handsomely to wait while the company is measurably transforming.
Unfortunately, an accounting change masked most of Q1/2020's transformation progress. The pandemic both accelerates declines in the Local Exchange business and delays growth in the rest of the company. I expected that transformation would be later this year. Now, it looks like the big numbers will not arrive until 2021.
Getting 10% on your investment is not so bad. Right now, it