UCASU's 2021 net income may yield more than $0.10 per share dividend
Symbol: UCASU
UCASU's 2021 net income may yield more than $0.10 per share dividend
Atlanta, GA -- November 8, 2021 -- InvestorsHub NewsWire -- UC Asset LP (OTCQX: UCASU)'s management projects today that the company's net income in 2021 will likely be more than adequate to deliver the proposed $0.10 per share dividend.
The projection is made just 10 days before the company's annual shareholder meeting, which is scheduled for November 18, 2021, at 9:00 am eastern time. Due to COVID pandemic, this annual meeting will be held virtually as a Zoom meeting. Meeting notices have been sent to eligible shareholders in the past weeks.
"At this moment, it appears that some of our investments made in 2020 will yield great return in this year, and we will have more than enough investment gain to offset operating cost, and deliver the $0.10 per share dividend we've proposed, "says Greg Bankston, managing general partner of UC Asset.
However, Mr. Bankston cautions that there is still uncertainty regarding UC Asset's portfolio, and its business situation may change in the last two months of 2021. "Investors should keep things in perspective and take consideration of uncertainty." Mr. Bankston exhorts.
Another factor is that UC Asset's management has arbitrary power to withhold any amount of dividend for further investments. However, Mr. Bankston believes that the company has enough cash to support its current business plan, and a withholding of dividend is unlikely.
"Our cash position is strong. We believe we have adequate cash to distribute the proposed dividend, and beyond that, we are also seeking additional opportunities to invest," claims Bankston.
Any persons who hold UC Asset's shares by the end of the last trading day of the year 2021 will be eligible to receive dividends, if any.
