Question-and-Answer Session
Operator
(Operator instructions) Our first question comes from the line of J. Habermann with Goldman Sachs. Please go ahead.
Jonathan Habermann – Goldman Sachs
Hey, good morning everyone. (Inaudible) as well. I guess just to start with your comments on the dividend. It seems as though the market would appreciate obviously conserving cash in this capital constrained environment. So I'm just curious I know you said it's a very difficult decision but you know what would the argument for keeping this dividend as is?
Unidentified Company Representative
Mort, do you want to start with that one?
Mortimer Zuckerman
Yes, I am not sure that we agree with your assessment of the market and I think we will make this decision based on our own assessment of how we should properly treat our shareholders. A lot of our shareholders, I think, are assuming that we are going to continue with the cash payment and we feel that we work for them, as well.
And if we do not have any particular pressing need for additional cash and think we can afford based on our operating profitability and our financing of the capital costs that we expect to incur and the availability of capital costs and the credit market free up we think we would rather make these judgments over time and only under the conditions that we feel we cannot comfortably finance the things that we have in mind going forward would we feel that we should change the structure of our dividend.
I think a lot of companies may be in a different position than we are but I would point out to you that we sold a lot of buildings at what turned out to be the peak of the market. We did a lot of good financing including a $747 million financing for the company on August the 19th of last year.
So we are in fairly strong financial condition and Mike and Doug have done a great job in terms of arranging for corporate credit lines. So we are – we will make the decision as to what we do probably sometime in the next six months when we see how the credit markets have reacted and what our own credit needs or cash needs may be.
Jonathan Habermann – Goldman Sachs
Great, thanks for the commentary then. And then with regard to Lehman at this point I mean do you have any confirmation that they will stop paying rent after March or is that an assumption that you've made?
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