It usually seems to be the kiss of death when I publicly say that I like a particular stock, but I think I've publicly mentioned ACAS before with little ill effect at the time.
I own a lot of this in my pseudo-retirement (non-IRA, but the majority) account and usually own it in my trading account. I don't (but arguably should) do DRIP, but it sure felt good to check the accounts this morning and see the cash increases from ACAS's dividend.
Like someone else mentioned, I'm also considering using margin to buy more of it in the big account. With a dividend yield of about 18% based on today's price it's getting awfully attractive. What gives me pause is that the dividend is deep into "too good to be true" territory but countering that is that I'm not aware of any time that the dividend has done anything but go up. On one hand, few stocks whose dividends reach this level keep the dividend intact long-term but on the other, I can't find anything that looks like it could endanger this dividend.
I know I'll be buying more of the stock today but have no idea how much yet. I'll also likely take a rare dip into options here. Right now it doesn't cost much to buy the right to lock in the right to buy larger quantities that'll (most likely) yield 18%.
I thought when the price got low enough to bring the dividend yield up to 15%, the selling would stop. Wrong. The market obviously doesn't trust the dividend because if it did, this one's been in no-brainer territory for a long time.
Geez, if I were a day-trader, I sure would be tempted to unload the shares I just bought. But will just look at it as an especially juicy dividend.
While typing this, I've bought a little bit of stock but not options yet.
Let me die in my sleep like my uncle; not screaming like his passengers.
