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Consensus unlikely to move significantly at this point, although the low end may move up but the news on dividends should be well received and consensus dividend expectations will likely rise.
"As a matter of prudence we have downgraded future dividend expectations for subsequent years to a flat out-turn, a pay-out that will depend upon the profit performance of the group and management's strategic review; this may yet be too optimistic.
Yet, the announcement of a new financial strategy led to a 5.37percentt downturn of YHOO today as the company played down dividend expectations.
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The group has also reported a positive start to the full-year and with guidance for the full we maintain our full-year estimates, though our dividend expectation will rise modestly.
They can cut dividends: expectations are growing that Citigroup will do so.
A Vodafone share price supported by a strong dividend yield and expectations of dividend per share growth makes that outcome more expensive to deliver.
Pepco management reduced its dividend in anticipation of the merger, with the idea that if reduces expectations now, it can deliver more pleasant surprises to shareholders in coming years.
"Encouraged by that progress, the board has maintained the interim dividend despite an expectation that the trading conditions for the rest of 2011 will remain challenging".
The concentration on takeaway sandwiches and other ready-to-eat food appears to be working for Greggs, which earlier this year gave its shareholders a £20m dividend after sales exceeded expectations.
The great bull market, which downplayed the significance of dividends and generated unrealistic expectations of ever increasing share prices, deserves some of the blame.
The results were broadly in line with expectations, but the dividend cut of 20% was bigger than anticipated.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com