I know the X date was 2/10, I didn't make a note of the payout date and was looking at my statement and did not see the payment yet. I think it should be this week (if I remember correctly, week of 3/10 sometime). Does anybody know so I can make a note of it?
corky was right about the special dividend. But they also have a stock buyback program and if the management did this correctly they should have started using it THAT day. It is recovering slowly, but if they keep buying on wealness they will keep buying at these lower levels.
A special dividend is a way the company can give cash back to the stock holder. Ex-dividend date was 2/10/14 and it opened up the next trading day at least $4.34 lower than the previous close.
So they are paying us with our own money? On Monday it didn't drop 4 dollars from sellers getting out after the ex date. It just opened 4 dollars lower. I don't understand the point of the special dividend. Can you explain?
BID will offer a dividend and buy back stock, thus shrinking capital. BID is both an auction house and a bank that finances items for auction. To maintain a competitive edge, it should keep capital to enhance its financing options. Combined with its knowledge and capital it can edge out marginal players. Buying stock after this runup makes ROI on this move doubtful as to alpha. The dividend can be replicated by selling shares as it is only a present value distribution.
So what are other options? Go private to better structure deals away from bean counters. Refresh online, make forward commitments by paying a call option to holders of art, real estate refi, start boutique kiosk offices for advice to ultras...Longer term art prices and commissions should ride piggyback to the money printing, top 10% wealth, better education... one still has to exploit this
it needs some kind of COA or proof that they are real. Go to ebay and search signatures of your guys.