RE:RE:RE:Dividend of 4 cents declared.Mauriceopp wrote: tinytot wrote: Mauriceopp wrote: This is the dumbest thing I have heard. We lost 3 cents a share for the 6 month perriod and are declaring a dividend. The better not make it taxable since it will be a distribution from what we paid in in equity. A dividend is a distribution of PROFITS.
And this:
This figure excludes approximately $10.7 million (US$8.1 million) in revenue from 43,000 carats in Sale 5 which was reported as income.t received until July 2018 and will be recognized as revenue in the third quarter of 2018.
And so will more expenses like the costs to mine those carats which will be matched to the revenue if proper accounting rules are followed. Until the period is over there is no profit and dividends should not be paid until then.
Are you sure of that?
I am not an accountant, so I may be wrong.
But in the companies that I ran (not mining companies, I admit) we could not accrue costs of production, they were accounted for in the period in which they were spent.
I'm betting that those 43,000 carats were included in the EOQ inventory, valued at COP.
So until you can prove me wrong, I think you are.