15 Companies Set To Drop A MONSTER One-Time Dividend

Dividend fever is gripping America.

From Starbucks to Two Harbors Investment to Earthlink, offering a killer dividend is a great way to garner positive press and woo investors to your company.

The reason?

Companies have big wads of cash, and actually investing in the business seems unnecessary.

A recent report from Citigroup (C) lists 15 highly underleveraged companies that could, theoretically, pay a monster one-time dividend, were they to borrow money and dump it out. Note they’re not saying this is definitely going to happen — it mainly gives you an idea of who some of the most underleveraged companies are.

In each, we’ve provided the potential size of the payout, along with a few choice financial datapoints.

Check out the 15 companies >

GameStop Corp (GME) Potential one-time dividend: 80.1%

Cash balance: $905.4 million
Market cap: $3,522.3 million
TEV/EBITDA*: 3.8x

*Total enterprise value over earnings before interest taxes depreciation and amortization.

Health Net Inc (HNT): 83.4%

Cash balance: $2.04 billion
Market cap: $2,568.3 million
TEV/EBITDA: 5.3x

Healthspring Inc (HS): 89.6%

Cash balance: $462.3 million
Market cap: $1,048.4 million
TEV/EBITDA: 3.3x

Molina Healthcare Inc (MOH): 95.1%

Cash balance: $644.3 million
Market cap: $653 million
TEV/EBITDA: 4.3x

Amsurg Corp (AMSG): 99.4%

Cash balance: $33.9 million
Market cap: $693.8 million
TEV/EBITDA: 4.4x

Telephone & Data Systems Inc (TDS): 104.4%

Cash balance: $784.3 million
Market cap: $3,427.2 million
TEV/EBITDA: 3.7x

Barnes & Noble (BKS): 106.8%

Cash balance: $157.7 million
Market cap: $1,376.8 million
TEV/EBITDA: 3.6x

Penn Virginia Corp (PVA): 107%

Cash balance: $98.3 million
Market cap: $1,112.0 million
TEV/EBITDA: 9.9x

Time Warner Inc (TWX): 116%

Cash balance: $1.08 billion
Market cap: $17,331.8 million
TEV/EBITDA: 6.0x

Clearwater Paper Corp (CLW): 118.1%

Cash balance: $190.8 million
Market cap: $604.6 million
TEV/EBITDA: 1.7x

Alaska Air Group Inc (ALK): 127.8%

Cash balance: $1.19 billion
Market cap: $1,492 million
TEV/EBITDA: 4.4x

Kindred Healthcare Inc (KND): 130.9%

Cash balance: $123.1 million
Market cap: $760.3 million
TEV/EBITDA: 3.6x

Humana Inc (HUM): 142.2%

Cash balance: $7.80 billion
Market cap: $8,339.8 million
TEV/EBITDA: 4.5x

NRG Energy Inc (NRG): 171.2%

Cash balance: $2.30 billion
Market cap: $5,510.5 million
TEV/EBITDA: 3.7x

AOL Inc (AOL): 311.3%

Cash balance: $147 million
Market cap: $2,761.4 million
TEV/EBITDA: 2.5x

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