Tact has never been a World Wrestling Entertainment strong point, but this takes it. On the day of the worst Dow drop in history (777 points — call it the new 666), WWE has issued a press release titled “WWE: 9.4% Yield” to try and lure shell-shocked investors.
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Sell High, Buy Lowbrow: Media stocks may have crumpled Monday amid the biggest Wall St. bloodbath in 20 years, but World Wrestling Entertainment was determined to accentuate the positive. In a press release targeted at skittish investors, WWE took this opportune moment to point out its 9.4% dividend yield â<80>¢ “300% higher than the S&P average,” according to the company. “Given its strong balance sheet and cash generative businesses, WWE feels confident it can fund the dividend for the long term. The WWE considers itself a safe harbor in the current volatile marketplace.” But remember: Diversify! Keep a little cash in steroids, Spandex, turnbuckles and self-tanning spray, and America may ride this wave out yet.