The dividend reduction initially drew heavy criticism, but the financial community quickly
endorsed the move as a reflection of FPL Group's emergence as a growth company. As one
analyst said, "This early and aggressive action will further enhance an already sound
competitive profile."
In 1995, Mr. Broadhead's peers selected him Financial World magazine's "CEO of the Year".
By that time the actions taken by Mr. Broadhead were producing a multitude of benefits for
the company, including improved credit ratings, positive cash flow for the first time in years,
and rising stock value. In recognition of the company's achievements, Fortune Magazine in
1998 declared FPL Group "the brightest light in utilities" and America's "most admired"
power company.