RE:Hearing tomorrow...Hi Penny,
The Torstar directors had a different interpretation of how to "unlock shareholder value."
Suspending the dividend under the guise of preserving cash allowed the stock to be driven into the ditch and not emerge until a bid could be made. The bidder could then talk about the huge premium they were paying over the last 20 trading days. Sheer and utter incompetence mixed with contempt for shareholders.
The company had $70 million in cash at the end of Q1. Paying the $2 million in quarterly dividend payments wouldn't have put a dent in the cash. All part of the corrupt intent to screw shareholders, in my opinion.
MW