refinancingIt has been pointed out that this was a very smart strategic move-the most likely reason why they did not do it sooner was that they couldn't. Improved financials have opened up opportunities to reduce interest costs-no risk way to increase cash flow. No doubt that a dividend increase is coming-when I purchased the installment receipts I read the financials-the much higher dividend back then was covered-albeit barely. When they recruited a new Prez he wanted the old board to take the fall for the cut so the divy was slashed-now he can claim credit for restoring it slowly. Its a big part of my portfolio and I have written calls against it so I am in no rush to see the full dividend restored-that would put the stock in the mid twenties and my short options would put me firmly on the sidelines! Slow and steady suits me fine!