Or, they could have announced a cash dividend like TRW shares, creating a bid because of a fake cash dividend to dump stock into.
One interesting thing is that the more stock they create they more unlikely the dividends are going to happen because the cost will become prohibitive.
Even on collateral shares they have to issue dividends which are to be returned once loans are paid off. So they need the cash to pay the dividends even on collateral in the meantime.
We don't have a ex-date on the dividend either. Not sure why they didn't just say end of the year or last trading day since that would be the latest they could do it.
At the same time, when you look at their books first 1Q, although they show a profit there is significantly less cash than last year. Of course, we don't know the timing of payables and receivables but it can't do the dividend based on today's finances.
I used to think its because management was sophisticated why they kept cash so low, but now I realize they are complete and utter morons, with no planning even for a rainy day.
The upside is if these morons could get this far, it must be a good opportunity!
And, its only a profit because their A/R and or A/P or assets under development or whatever grow since they have profits and no cash.
