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I have to admit, I lol'ed at "Buzzard guts". Really though, a divvy will eventually wander down the pike. And yea, when I saw the criminal charges on the other company that perked up my attention real quick - in a semi-volatile place like Argentina is right now, that would have been a red flag.
Good luck Berd!
Oh my! =) That's plenty of info. In no particular order:
1.) Yes, I know TGS is an ADR. In fact, we get special brokerage fees (I do anyway) tacked on every so often for that.
2.) I definitely know I have the correct stock. Been holding it for a few years now actually - but I don't recollect having received a proxy since last Nov / Dec if my memory is halfway accurate.
3.) Yes, they have done high % dividends in the past. That's just adding to my confusion actually.
That said, after poking through what I do know, I'm pretty sure that the information in the article you posted is for a different company (and at the top the wrong ticker symbol / price is associated incidentally - this is an easy mistake to make). I think that article is about TGSGY:
http://www.nasdaq.com/symbol/tgsgy/dividend-history - little bit of info from the ol' nasdaq.
http://www.tgs.com/investor-center/stock-information/ADR/ - I believe this is the company website. The investor relations data seems to sync up with what you're saying, too.
Either way, I've definitely mixed these two companies up in the past when I first picked up TGS and tried to google their web site. They are both involved in similar fields (but not the same), which just makes it more irritating. That would also explain why the news posting was in NOK instead of whatever currency is Argentina uses.
That said, from what I've gathered from Lucia Domville (investor relations) a dividend is certainly a possibility, but, "There is no formal dividend policy, so there is no estimate as to when they will declare a dividend."
Sorry so long. Just trying to keep above board.
Thanks for the reply - not trying to scrutinize for the sake of splitting hairs I swear! =) Are these the same company? As far as I know, TGS (Transportadora De Gas Del Sur) was an Argentine / South American gas company traded on the NYSE. The link you posted is for the OSLO stock exchange, and even the contact information for the BoD and investor's relations differs from what I see on the TGS website:
http://www.tgs.com.ar/institutional/board
I'm wondering if the beams got crossed for this article with two companies that have similar ticker symbols.
They are? Curious, where'd you find your information? I checked with the investors' contact at Stirling and was told there was, in essence, no news on dividends at this time.
Don't get me wrong, I'd love a big ol' dividend! Just curious where you're looking.
Cheers!
So any chance of legal retaliation here?
Honestly, this company has a pretty spotty history of dividends from what I can see. It's nice that they are available occasionally, but it's ultimately a move as I understand that is up to the board to decide.
Folks smarter than I can correct me, but essentially the bigwigs at TGS will meet and build the meeting agenda / proposals for the annual shareholders' meeting at some point well prior to the actual meeting. If they don't propose a dividend, then it doesn't get voted on, and there is no dividend. This is what I am basically given to understand on this year's decision.
That said, I would be interested in knowing what we have to do to send a proposal so it can be listed up for vote at the annual SHM. Or something like that. I doubt there are any ways to obligate this company to pay us a dividend - we'll just have to sit tight.
Yes, I own stock in this company, and yes, these are all my opinions.
- Al
Interesting... So, Argentina is trying to block imports and bolster local business. That's just history washing its hands again, though. Hypothesizing here Dad - doesn't this help us out since TGS is an entirely native business to Argentina? I mean, investors might panic over a takeover, but TGS is completely different from Repsol, no?
And, of course, if any kind of forced takeover DID happen, this being a stock registered with NYSE, you better bet that there'd be international lawsuits and payouts for this. I personally feel fine hanging on to this until it hits a viable sell-point - but to each their own.
What do you think?
- Aldamar
It is a matter of integrity and moral principle, there we agree. That said, beyond you following the advice I gave to verify with grayling, and rescinding your false statements promising non existent dividends to people who actually may have a stake in this stock, you'll get no apology from me. Your statements were uneducated ( reference your claims to this stocks excellent history of dividends), ignored my shared information for which I offered methods to confirm, and I've no reason to believe any of your claims on stock ownership. I won't air any more of this on the board, my concern is, again, making certain that nobody is led astray.
If I am mistaken, I look forward to the moments in my life in which I may be humbled and learn.
Nevermind, sir. I think for any savvy passerby I've made my point that you're just trying to pump this stock, and if they are worth their salt they'll check into it. It's easy to see that this stock has a relatively poor history of dividends (4 in the passed 10 years from what I can see, at approximately $.034, $.025, $.019, $1.477 respectively) minus last year's excellent one, and it's easy to call Grayling (or e-mail them) to find that dividends were not voted on this year, and thus there will be no dividend.
I just don't like seeing folks mislead, and wish you would stop trying to do that. Call me crazy. Or, better yet, prove me wrong, e-mail Grayling, and post up a response.
Yes, great dividend last year. Previous to that, pennies per share. And, if you actually took time to read my initial post, you will find that cutting a dividend was not discussed at this year's shareholders meeting.
Anybody who doesn't believe me, or wants to validate that evidence, can most absolutely call our shareholder liaison at Grayling in New York (just check the web site). That's where I received my information - so if she tells you something different please let me know.
Not a big deal for me, I know what's going on.
I told you, there's no dividend coming - bad karma to pump like that. I would gladly accept being proven wrong, but unless you can offer some kind of evidence that there's actually a dividend coming you should settle back.
This stock is making a pretty steady comeback - minus today's hit - and I agree with DAD that this still probably has pretty good value. I just wouldn't bank on a dividend.
It's entirely speculation on my part, but I'm guessing that (since the investor meeting was about a week ago) price drop may be related to folks realizing that there is not dividend coming. And of course, all that press release says is that they aren't saying anything about the sharp decline.
Still good value IMO too, I'll shortsale this and re-up next january-ish, in case they decide to move another big dividend.
Grayling is a company in new York, the American investor relations contact is there. http://www.tgs.com.ar/Investors/Contact check out the English version of the Web page, there's plenty there, and the folks at grayling have been good about replying to my emails within a business day.
I don't post often, but thought I'd give you all a fair heads up - there is no dividend this year. As a result of the large one last year, this was not proposed at this years shareholder meeting.
Check with the investor relations lady from Grayling - that's where I got my info. good luck all and happy trading.
Many and hearty thanks to those of you that replied to my questions earlier. Sometimes, reading these boards, things make me blink and reach for an aspirin - what with the scheming, plotting, etc., that is sometimes largely foreign to a man of high moral fiber (I may not be perfect, but I consider myself to have a measure of Virtue).
So, down to business I suppose. I must have missed the boat somewhere - what is this SEC litigation against Lanza about (in brief layman's terms)? And also, please bear with me carefully here: while certainly every PR I have ever read from BDGR has had a disclaimer on it, does that excuse what has been considered, by others on this board as well as me, outright lies? Where is the line drawn?
I reflect now on our rights to freedom of expression (press, speech, etc.), and recollect that a judge used the example of the crowded theatre, saying that a man did NOT have a right to yell "Fire!" as it could potentially cause harm to others. So, if this same man shouted, "Fire! ... **forward looking statement - there may not be a fire at all, I claim no responsibility to the interpretations and conclusions drawn from any who may hear me,**
... would THAT be okay? A largely ethical question, and please do not mistake my humor for any type of rage or anger. I certainly HAVE to have a sense of humor about that, but also a desire to learn, and to know where my rights end.
I do not know about the rest of you, but I would be happy to break even on this investment. I would be happy to take a 25% loss. Even 50% would be something to consider for me. If something wrong is going on here, I'm personally interested in pursuing it.
On the other side of the coin - at least it's a no stress situation at this point! I can't lose any more money than I have, so I either make some money back, or lose money I haven't placed in my budget for YEARS anyway.
Best wishes to you all, as ever.
- Al.
Salutations all,
I've been reading posts here for a bit, but haven't contributed until now. As well, I'll add that I'm by no means a seasoned investor, and merely learn from my mistakes, picking up information as I go along.
That said, please help break this down for me. It seems, to me, that this company has nothing short of a dubious reputation with their stock manipulations. So I ask:
Are they actually guilty of anything? Or, rather, might they be? How do we find out, if so? What rights do we or do we not have as investors?
Important basics, I thought. From a guy who has been hanging on to this stock for something like 3-4 years, and who used to look at the glorious forward-looking statements thinking "This is a no-brainer! This company is guaranteed to make money!" - I cannot help but be a bit saddened that my hard earned dollars are now worth a weeks worth of McDonald's food.
Insight and time is appreciated. Cheers and good luck to us all!
- Al