Dividends and Delphi
This news suggest that Delphi’s 7cent dividend payout may not last
Delphi reported late last week that an independent audit committee found that it improperly accounted for rebates, credits and lump-sum payments from suppliers. Also, incorrect accounting for off-balance-sheet transactions in 2000 led to a $200 million overstatement for the year. Similar problems resulted in a $61 million overstatement for 2001.
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