Thanks PDC, appears REIC is almost in play...
A bit disappointed that the owner decided to take an $180K payment for unpaid services the last 9 years. Without knowing their personal tax bracket specifics, I still think that declaring a dividend would have actually put more cash in the owners pockets after taxes.
However the good news:
ITEM 5: MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
(C) Dividends: The Company has not paid or declared any dividends upon its shares of common stock since its inception. The Company does anticipate declaring and distributing a cash dividend in 2005.
***
As the Ricketts are majority owners, they get most of any dividend. I would expect they will likely award themselves a few more share before as payment for board of directors services. Right now they got just under 8 cents per share cash, so a dividend could realistically be 5 or 6 cents a share.
Best part is the statement they are anticipating this, which likely means they are aiming to sell their shares soon (likely for hundreds of thousands) and the dividend would be getting the cash out before spinning this off.
MACK
If somethings hard to do, then its not worth doing - Homer Simpson