It's never a good sign when a big dividend gets cut, and it's even worse when it disappears entirely. For shareholders of Spanish telecom company Telefonica, that's exactly what happened recently. The company announced it would suspend its dividend until late next year as it focuses on shoring up a heavily leveraged balance sheet plagued by tons of acquisition-related debt. In the following video, Brenton and Austin discuss the move, and why this is a cut that made sense for shareholders taking the long view.

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