Apparently there was another secondary today, 1.8 mil shares at 8.25. I guess they're getting all the equity capital they can while the price is up. Since this will raise the book value of the company and raise the working capital I would suspect this will be good for long term investors.
As per GLAD's SEC filings, it intends to declare its first dividend 90 days after its IPO (last week of November). Since GLAD will keep its $$$ in money market accounts till it lends out the money, GLAD will not have large earnings to make more than a nominal div payment this year. The dividend should ramp up nicely over the next 18 months. GLAD's quiet period will be over in around 15 days, after which we can expect press releases about the 57 MM in loan commitments it has to 5 different companies
In response to when GLAD might begin to pay a dividend, I looked back at ACAS which first traded on Sep 2, 1997 and paid it's first dividend in Mar of 1998. It looks like it took about 6 months. It would seem reasonable that GLAD would follow something similiar.
I have another question for anyone who has been around since the beginning. What was ACAS's IPO price?
All depends on your time frame. 1 year performance ALD wins. 2 year ACAS wins. Yield for both close. I think each one is subject to news stories about the fortunes of their underlying investments. This to me is what has affected the short term price levels so that one looks to be performing better than the other. My medium term objective is to build a large position in both of these companies => 25% of my portfolio. No guess on GLAD.