DIVEven with all the litigation, share comp, income tax etc added back, payout ratio was 116% and over 130% the year before, as the company reported. And doesn't that income tax have to be paid? Why added back? Maybe an accounting thing.
Why raise over $50M and have it sit in the bank for a long time undeployed costing about $3M a year at over 5%? Regardless of cash balance, dividends paid should not exceed real cash generated for long which it has by a bunch for the 2 years shown.