RE:Example..total market BS.Investors were hoping for a 10-20% special dividend this quarter.
Instead management decided to be conservative (covid and all) and just doubled the current dividend.
Management is holding record amounts of cash and as the cash pile continues to grow everyday at record pace they will at some point in the next 3-6 months...
1. special div of 10-20%, 2. buy back shares at much higher rate, 3. wipe out massive chunks of debt (or all of it if they want)
I anticipate they wil leave the regular div alone and annouce a balanced approach of all 3 things I mentioned (10% special div, share buyback program at 3-4x 2020 rate and 20-30% of outstanding longterm debt to be paid) when they announce the Q4 record numbers this winter.