I'll answer your questions:
Q: Why not asking for 4% dividend?
A: WHAT??? Please rephrase.
Q: Is for 4% dividend not better for us then paying 4% interest rate?
A: 4 percent is 4 percent regardless of how you call it, at my credit union I get a dividend, at my bank I get interest. Bottom line you as the investor get nothing out of this deal.
Q: Does this not mean that HE believes HE will have soon dividends otherwise he gives the money for free?
A: He never gave the money for free, just look at the 8K's, 10K's etc that explained the interest he was to be paid for these "loans" to the company. He just has not collected and has extended terms on those that came due. Now he WILL get 4 percent on his money, mmmm 30 million dollars (using your numbers for the sake of argument), 1.2 million dollars a year in dividends?? How much income does this company have to pay that amount??? After that what is profit for the rest of the shareholders?? How will that benefit a cash strapped company that needed to borrow in the first place or for the last 15 years for that matter?
How will this dividend be paid??
How many shares? 30 million dollars divided by .035 equals over 857 million shares. Adds a bit to the stock outstanding shares total don't you think???? Granted, Float is not effected but when valuations come in those millions of shares will reduce your value per share significantly.
Your points: It means:
1) we are free of debts (NO, YOU ARE NOT,His preferred shares will be sold sooner or later depending on Mr Lenfest and any restrictions put upon this deal. In the mean time it will cost the company millions in dividend payments.)
2) the shareholder believes he will get dividends, means we will be soon profitable! (Maybe, or he plans on selling which is more likely, but add the additional 857 million shares and how much value do you honestly believe will be added to your shares?? NONE)
