Sino Agro Food Inc (fka SIAF)

[treit2002]

This is mere conjecture, but I suspect the dividend (.02 vs. .01) is tied into the possibility of a bond.

Seriously doubt this, as the timing of the two never figured to be aligned. More likely, simply related to cash flow, determined by dozens or hundreds of variables, including HU yield.

The dividend figure of 8% of income was always a target, and presumed to be 8% of GAAP. As I recall, earnings were $.43 GAAP, so 8% is $.0344. And of that $.02 was allocated in the preferred series F. So really, another $.0144 would make target, if I have this right. If he wanted to or had to keep to round pennies, then he could go over or choose which to be over and which under. Les cash is obviously better to reduce financing, if needed.

I'd prefer $.02, but $.01 wouldn't bother me too much.

Hope to see PR about this and the BOD soon.