In 2013 they paid a $1.60 dividend. And it was quite effective because the stock went from $12 to $28 even though earnings came down to the levels we are seeing now. A rather significant drop in 2013. Then in 2014 they paid a small dividend of 20 cents.
Since that time they decided to preserve cash. Which was a good decision because earlier this year they had to repay a bank loan and it looks like they couldn't get a new one. The sector is in too much trouble I guess. They even had to issue a few shares last year, remember. Which caused the stock to collapse.
It's a different situation now. Sure, they can do share buybacks. We even have good volume. But I think dividends are much more effective.
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