RE:RE:RE:RE:RE:Strange trading last two days!
JayBanks wrote: Ummm... your extreamly wrong on that...
The extra penny of the dividend costs the company around $19 million per year, and as per the last Finacials they have $53.1 million in bank debt ($76.2 Net Debt)...
Unless the world of maths has changed that I don't know about:
53.1 minus 19 does not equal 0...
I'm pulling bad numbers, I should have pulled numbers from Q3 2022 (Sept 30th) to properly address your claim...
At that time Bank Debt was was $42.167 Million, Net Debt was $62.067, Share count was 155.737M
1 cent reduction dividend x 12 months x 155.737 M = 18,688,440 or $18.7M cost for every penny on the dividend at the time...
Even if they paid that $18.7 million to debt rather than shareholders, the Bank Debt would not have been eliminated now with all that has transpired in the year.
(I also notice I get different numbers for the dividend cost depending which numbers I pull from and how I work the calculations based on the different areas of the financials, I got 18.3M per penny a couple weeks ago using the actual paid numbers from a recent quarterly, but the .4 difference is likely due to the (000s) somewhere and it's not really material)