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dividend requirement |
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Dividend requirement
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Preferred shares generally have a dividend requirement that makes them appear similar to debt. The after-tax contribution to Windstream's cash flow by the directory business is somewhat less and the effect of its loss on free cash flow will be mitigated by lower interest expense as well as a reduced dividend requirement. The special dividend helps allow the Fund to meet its 2005 dividend requirement for federal excise tax purposes. |
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