Dividend.com: Paychex Stubbed

Alliant Energy Pre-Announces a Possible Earnings Miss, but Sees Dividend Hike in 2009

Alliant Energy(LNT Quote) just announced it expects to be at the low end, or slightly below the earnings guidance for 2009.

The company is also announcing guidance for 2009 earnings from continuing operations of $2.18-$2.48 per share. The company's board of directors has approved an increase in its 2009 expected annual common stock dividend to $1.50 per share from the current annual dividend of $1.40 per share. Payment of the 2009 quarterly dividends will be subject to the actual dividend declaration by the board of directors, which is expected in January for the initial quarterly dividend.

We have avoided shares of Alliant since our early June coverage began, when the stock traded at $36.97. The company has a 4.66% dividend yield, based on last night's closing stock price of $30.02. The company is approaching some key technical levels in the $24 to $25 area. If this fails to hold, then there is potential for a move down to the $15 to $16 area. We did get good news about a dividend hike, so we'll be watching to see if shares can consolidate here.

Alliant Energy is not recommended at this time, holding a Dividend.com Rating of 3.3 out of 5 stars.

Pentair Cuts Profit Forecast and Will Cut 10% of Its Workforce

Pentair(PNR Quote) just announced it will cut more than 10% of its work force, or about 1,600 jobs, due to a faster-than-expected drop-off in demand and consumer spending.

Management cited the speed and impact of sluggish demand in global markets and consumer spending has had a deeper impact on its orders and sales volumes than the company had previously expected.