Is DFR still giving out dividends --- and if so, what's the X-Date?
I've searched in two different places and both say X-Div date is (was) 12/26/2007 and list the dividend as 42 cents per share. But this is old news... Have any recent announcements been made about upcoming dividends/X-date?
DFR pays dividends in an unusual way. In 2007, for example, dividends were paid in may,august,nov,and dec. If they do the same in 2008, there will be a dividend announcement in april with a payment around May 30th. I would be very surprised, however, to see any cash dividends paid in 2008. Instead, I expect DFR to hoard cash while trying to survive both volatile markets and the obviously inept DFR management. My play here is real bottom fishing playing for a bounce to $5/share in a couple of years. I don't look for dividends until 2010 or so.
There's an article over at Seeking Alpha that states that DFR has suspended dividends for the time being.
If you are comfortable trading options, I would do covered calls @ 2.50 expiring in October. Your real risk here in a covered call play is holding the stock. Should DFR go sideways (stay below 2.50) between now and October, you win because you make $30 per contract sold. If DFR goes up, you win there too since you are making a profit by selling. DFR tanking is where you risk losing on the trade.