Good weekNice week for this stock. Managed to hold 40 cents, which is important i think. Will be interesting to see how it trades ex-div.
I do find it interesting that the company was, all of a sudden, very keen to do a special dividend distribution, which seems a way of appeasing some investors. Cash is certainly their biggest asset, being a lending company. If they want to keep growing their loan book, I would have thought that having adequate cash reserves would be a priority... Now all of a sudden, they state they are 'over-capitalized'...
I do see it as a good sign that the investors from RBP would rather have stock than the $2M in change that was part of the original plan. I also think that it's always good to have some scrupulous eyes on the board, so I hope Terra Nova gets their seat. Given what seems to be a shady past, I have no problem with TN requesting additional information on such a big acquisition.
Anyways, happy with this thing so far. May consider reinvesting the divy if it drops back substantially. Hoping for some more news about the new business as well.
Have a good weekend everyone!