BT - BT Group: Why A Dividend Cut Is Completely Irrelevant To The Investment Thesis

Introduction

The ongoing debate about whether or not the BT Group (BT) dividend is sustainable is actually the wrong debate as it removes the attention from what really matters: How profitable is BT Group and how much free cash flow is the company generating on a normalized basis?

After all, one should never blindly invest based on a dividend yield but have a holistic approach by looking at all aspects of a company. And by doing so, the dividend question becomes virtually irrelevant for BT Group as whatever the company ends up spending