In what could be considered not a terribly surprising move, Xerox trimmed its quarterly dividend from $0.0775 to $0.0625 - a 20% decrease.Xerox’s financial situation has been getting progressively more precarious in recent years. Quarterly revenue has been steadily on the decline since around 2011.The large drop in the recent quarter is thanks in large part to the separation of Conduent, its business process services unit that according to an investor presentation is expected to generate around $6.6 billion in revenue annually. I like these companies as separate entities instead of a combined one and the separation should create some short-term spinoff value for both companies.The Conduent spinoff is likely the majority of the reason for the dividend cut. The stock remains up more than 30% on the year with the forward yield on the stock still hovering around 3.2%. While the short-term situation has been positive, I’m still leery of this stock given the steadily declining revenue picture.What do you think? Would you be a buyer of Xerox at current levels? Post in the comments below. Requires signing in. That’s easy: Just use your Facebook, Twitter, LinkedIn or StockTwits credentials.