It’s been years since this company had a split. Don't we all think it was high time for one? Yes, I know, it’s like a pizza, you cut 4 slices into 8 and the pizza is the same size, just more pieces. Either way its fun to have more! :) This is a wonderful investment and, a fantastic company that I have held for nearly 25 years, and never sold a single share.
Started in 2000 in the DRIP at around 20 bucks a share. I am glad to have made money--but I wish they would do a bigger dividend increase rather than a split. 51 is a bit high for MGEE and I fear the share price is really going to go down when the Fed finally raises the rates.
slind610: What relationship do you see between a stock split and a dividend increase? Dividend increase results in more money in your pocket. Stock split will result in a corresponding decrease in stock value and dividend; a zero sum game. No guarantee a stock split will result in an increase in price over the long haul and absolutely will result in a proportionate dividend decrease.
I agree that $34 is a fair price for MGEE. At 34 the dividend yield would be 4.6%. Unfortunately for both of us--once the Fed finally raise the rates--34 bucks will happen naturally without a 3 for 2 split. I really like MGEE but I was happy at $40. $52 today and still climbing makes no sense. But what the heck---go MGEE! However-- I am looking for the right moment to exit and buy back at a much lower price.