The 55 cents is questionable. There are some scenarioes where it does make sense, but I'm not sure if they (at least not for all shares) apply here; 1) The shares issued the past 6 months (many of which seem to not have hit the market) 2) If Solomon has managed to sell the idea of SIAF to them - whether it is the TRW-dividend or the cash-dividend 3) The deal were made when the PPS was a lot higher, but applied for a longer term The truth might be a mix of these as well.