As Bobby Bowden would say, "Dagummit!" The net effect of the special dividend is in the red as of this morning.
The special dividend wasn't the only pro here.. In the last few months... regular recurring dividends declared, analyst upgrades, stock buyback, creditor expansion of the operating lines (to support growth), performance thresholds met to satisfy restrictive debt covenants, & consistent quarterly earnings. But PPS still trading at a low multiple to EPS...
Long story short.. I expected the short term net effect to exceed the dividend %
The short position on the stock has declined, but the remaining shorts seem very resilient, even after two special cash dividends.
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