Dividend Plan works or Another R/S?
Alright guys, I posted this on another board. Give me all your humble opinions.
Looking at that share price right now: $1.87,...the share price has been shrinking back down again (towards $1.00). If that happens again DRYS is going to have to do another R/S.
That last R/S at the beginning of 2017 nearly gave me PTSD....because the share price fell well below my buy price before the R/S.
If they do another R/S again.... OMG . This Dividend Plan better work....or the share price is going to keep on shrinking toward $1.00....again.
Just look at DRYS Jan - Feb chart.
Talk about a 50/50 chance here.
Whataya think?
$DRYS: NEWS! DryShips Inc. Announces the Initiation of a Regular Quarterly Dividend Policy and Declares Its First Dividend to Holders of Common Stock Under the New Policy
Published: Feb 27, 2017 4:05 p.m. ET
ATHENS, GREECE, Feb 27, 2017 (Marketwired via COMTEX) -- ATHENS, GREECE--(Marketwired - Feb 27, 2017) - DryShips Inc. DRYS, -16.52% (the "Company" or "DryShips" , a diversified owner of ocean going cargo vessels, announced today that its Board of Directors has decided to initiate a new dividend policy. Under this policy, the Company will pay a regular fixed quarterly dividend of $2.5 million to the holders of common stock. In addition, at its discretion, the Board may decide to pay additional amounts as dividend each quarter depending on market conditions and the Company's financial performance, over and above the fixed amount.
With respect to the quarter ended December 31, 2016, the Board of Directors declared a dividend of $2.5 million to the common shareholders of record as of March 15, 2017 and payable on or about March 31, 2017. The dividend per share amount to be paid by the Company will be determined based on the number of shares outstanding on the record date.
George Economou, the Company's Chairman and Chief Executive Officer, commented:
"We are very excited to initiate our new dividend policy which is a testament to the dramatic transformation of the Company's finances over the last 6 months. We continue to transform DryShips and we are confident that the results of our efforts will become evident in the near future."
