Post by
bobby1231 on Mar 01, 2017 11:24am
Dividend
If there is 58,800,000 shares outstanding....this is paying a good % in dividend. Where are the funds coming from? they have lots of debt from what I can see...iI don't know much about DRYS but is there any one here that does
Comment by
ufoolme on Mar 01, 2017 4:02pm
A complicated story, and not a very nice one. However they recently sold 5 bulk carriers and used the proceeds to pay down debt. Their balance sheet is better now, and some think the dividend announcement is a sign that the bottom is in. Speculative though.
Comment by
MayorRobFord on Mar 05, 2017 4:05pm
Dividend money came from the dilutions happening to the company. One step forward, 9 steps back. Another dilution was announced just past Friday. $75M with $70M left to go in just this offering, which they have in mind to do more. There will be bounces here and there, but long term picture is still down.