2020/20
It was 12 cents total. The dividend was 8 cents. The special dividend was 4 cents.
The following comments (some) are from the shareholders meeting I attended, so please don't completely depend on this and do your own due diligence.
The special dividend was from an AMT tax refund and from a cost saving, about two cents each. I posted on that.
I would not use 12 cents as a jump off point. Instead, the base is 8 cents and that's where we should start
As for the special dividend, I've posted about gross margins going down by at least 6 points. Therefore, I doubt we will see a special dividend but I have zero idea.
I posted on cash investments being made. $1 million. $2 million.
So that will offset any $1 million or $2 million gains in cash position.
I look at that as a zero sum game, whether it takes 1 or 2 or 3 years. It really does not matter IMO. They basically have three options.
Increase 8 cents to 12 cents to keep things equal. Go beyond 12 cents since they have a ridiculous amount of cash on the balance sheet. Throw a dart on any number you like. And third, buy back some shares, maybe a tender offer.
Dividend buyers everywhere. I don't see the buyback option I mentioned as to what is happening.
2020/20 is not out of the question for next year.
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