I too am curious about the delay, but I chalk it up to over exuberance on the part of management, unforeseen delays in getting NOUV current, and just the web of paperwork needed to perform the issuance of shares as dividends. I am not selling any shares in the near future, but I want the lockup clock to start ticking ASAP. I would personally prefer that the R/S happen before the dividend since it would be a fresh start as opposed to a R/S that would stain the stock if it occurred after the dividend.
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