Data-center operator Switch (NYSE: SWCH) is a company in transformation, possibly in more ways than one. It's already firmed up plans to become a real estate investment trust (REIT), but its status as a publicly traded stock might end before that occurs. 

Switch isn't a major dividend player -- at least not yet. Once it becomes a REIT it will have to pay out at least 90% of its net profit in the form of shareholder dividends. Let's see if we can tease out what might happen to this in each of those two transformation scenarios.

Switch is still a growing company, which is probably a key reason it likes to keep its quarterly dividend relatively low (at barely over $0.05 per share at the moment, it yields a wafer-thin 0.7%).

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Source Fool.com