The board, management and the stock is an absolute travesty. Yes, I'm upset at buying @ $20/share in the IPO. The dismal ROI when dividends are paid out doesn't come close to making me whole. It's been touted that a lawsuit in past got some resolution and more importantly - a reaction out of the board and their managers. I wonder if it would take such drastic action in order for that to take place now.
What would the basis of a lawsuit be? They do not have control over the general economy and federal reserve interest rate policy which has resulted in overnight returns on their $2.5 billion being so low. While the stock holders would like to see more of it actively deployed in the near term, the slower pace at which they are doing so based upon their established investing parameters is not a violation of their fiduciary responsiblities.
Actually, 5 years ago it was at 13.80. Just sitting on 3 billion in cash isn't going to get this stock going in the right direction. Management should at least start buying their own stock if they can't find anything better to do with the cash. Chart support doesn't look strong until around $10.00 either. That would provide a yield of over 6%, if the divi is maintained at the present level. Question: Do we watch our principle loss exceed many years of divi's or get out? I chose the latter! Best of luck to all.