Replies to post #22295 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[steviee]

MGM to Recommend Board Pay $8 Dividend
MGM to Recommend Board of Directors Pay $8-Per-Share Dividend to Reward Shareholders


LOS ANGELES (AP) -- Officials at Metro-Goldwyn-Mayer Inc. plan to recommend to the entertainment firm's board of directors an $8-per-share dividend, the company said Tuesday.
The recommendation could come by the end of April, when the company will finish refinancing its credit facility, according to an MGM statement.

ADVERTISEMENT


The one-time payment is being considered as a way to reward shareholders, the company said.

MGM, which produces feature films and television shows and sells home videos of its extensive library, has been seeking for years, without success, to become a vertically integrated media company either by selling itself or buying other assets.

The company failed to buy the cable channels owned by Rainbow Media and also failed in a bid for the entertainment assets of Vivendi Universal.

MGM has also been buying back its own shares as a way to boost its stock price.

The studio's stock price shot up nearly 8 percent late Tuesday, rising $1.38, after closing the regular session unchanged at $17.48 on the New York Stock Exchange.

[jenna]

RIMM YHOO settled up these babies in today's newsletter as well STRADDLES although we love RIMM, we are not buying or recommending boatloads of either position. We leave the "maybe the next trade will be the big trade" mentality for others. We already got our BIG TRADE on RIMM although we are just beginning to enjoy the short attributes of YHOO, every trade for us is perceived as "a big trade" and we would rather have average gains on all rather then waste money trying to get the 'next big one'. That mentality leads to "traders anonymous" or at least a burn out.