Thats called buying the buck. LOL Insider don't want the delisting notice I guess. They did it 36 days ago also.
PS the divy isn't bad for a 90 cent entry. @ 3 cents per Q, it equals out to 3% for the Q and 12% for a year. Actually surprised they issued one, after such a fall in stock price. Q3 2011 and before they issued 10 cents, and the stock price, to own then, was 3.75 and above. For 2.5% per Q for 10% YoY.
If one decide to hold for a dividend position trade, things may get interesting, at this price level.
Lets see if I can explain.
The lower the point held the higher the ROI for dividend. As long as the dividend stays the same. By them lowering the divy from 10 cents to 3 cents, they kept the ROI about equal for new investors.
This is very positive IMO, because with such a large price decline, they could have just passed on the past 2 Q's dividend. So between not wanting a delisting notice, at all, which they could have taken and negotiated with the NYSE about, for up to 6 month sometimes. Plus giving investors a new equal dividend ratio. This management seems to be positive about the future. They are working hard at keeping their rep/or standing with shareholds and that's rare.
Now why it's not a bad idea to hold for future dividend. You use you basis entry price to calculate return. .03/.90 = .03 or 3% for the Q. If price continues to come back slowly. Say to 1.50 then .03/1.50 = .02 or 2%. But becasue your bases point is .90 your return would remain at 3%. While new investor at 1.50 get 2%.
Now you get 1% extra plus have a 60% gain in stock price. This starts to snowball as a stock comes back. With odds they will raise the divy as price increase, to maintain the old ROI of 10%+/- a year, at the new price point. So you may see 5 cents in that Q and your ROI will go from 12% YoY to .05/.9 = 22%. Next price increase, new larger divy, to keep YoY @ 10% and your ROI will start moving larger expo, with ever increasing stock price gains, if you ever do sell.
The whole thing hinges on increased stock price and increased dividend to maintain 10% shareholder ROI. It's natural to lower dividend with price fall and increase with price climb. Just as the did by lowering it. This became a dividen investors buying OP. And old shareholded should be made whole again with increases.
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