RE:RE:RE:RE:RE:Land SaleRegardless of price, this equates to $7.20 per share in cash that is now available.
Nice to see a small jump in share price yesterday, but the company now has roughly $20/share in cash on hand, virtually no debt and making record profits quarter after quarter.
At what point does the share price start to recognize the true value of this company?
What will be the catalyst for the shares to move?
Without a stated use for all this cash, at what point does the company return a large portion of it to investors via a special dividend or at least a significant increase in their regular dividend? A regular dividend of $1.00 per quarter would still allow for the company to build up their cash surplus and would support a much higher share price. Institutional investors would jump in and drive share price to over $60 dollar at that dividend level given the Balance Sheet, cost structure and profit levels of this company.
Somethings gotta happen soon, especially with Kastenbaum calling the shots and personally owning a significant portion of the outstanding shares.