wook, that isn't exactly correct. PPHMP is NOT allowed to pay dividends. A company MUST make profits and have written down completely on its tax advantages before it can pay dividends.
Peregrine Pharmaceuticals is underlying the PPHM as well as the PPHMP stock and hence no profit AFTER taxes=no dividend. If this wouldn't be the case it would open the door for scams. raise from NASDAQ and pay dividends with that...! NOT allowed.
PPHMP pays 10.50% interest yearly on 25$, the issuing price of PPHMP, paid in 4 time to each holder of PPHMP shares no matter when or at what price they acquired it if they have the share on the interest assignment day.
That is NOT the same as a dividend.
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