From my calculations the following exerpt from the 8K means a dividend cut to $0.00. I still like UNITI with no dividend, but not at the current price. I think it still has a ways to fall. I believe Monday 03/18 will be a very key date.
Item 7.01 Regulation FD Disclosure
On March 4, 2019, Uniti Group Inc. (the “Company”) commenced a process to seek an amendment and limited waiver (the “Amendment”) under the Company’s credit agreement. The Amendment would, among other things, waive any default resulting from a going concern modification to the audit opinion the Company expects to receive from PricewaterhouseCoopers LLP as a result of the recent bankruptcy filing by Windstream Holdings, Inc. and all its subsidiaries. In connection with the Amendment, the Company may agree to certain restrictions under its credit agreement during the pendency of the Windstream bankruptcy, including a provision generally limiting our ability to pay future cash dividends to an amount that does not to exceed 90% of our taxable income (excluding capital gains).
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