Alrighty then.. They had weighted avg. shares outstanding -diluted last year 09/30/08 of 504,609,331 this sept 09 they had weighted avg. number of shares outstanding 553,376,285 so that an increase in shares issues of 48,766,954 shares for the trailing twelves months.
Looks like a dilution mechanism of 4 million shares per month.
Did ya ever step into a bog and feel the earth underneath start to pull you in?
Well thats what diluting feels like to the investor.
Nice to see that the stock has some appreciation but I wouldn't count on this going forward, unless the company gets it's equity market under control.
gee, andynsheri, thanks for the education. your analysis would be good if it weren't 180 degrees wrong. you might wanna brush-up a little on US Agency MBS. or as a teacher of mine once said, "start your brain before putting your mouth in gear".
I expect that the increase in shares outstanding results from the dividend reinvestment plan. If shares are trading at above BV the company keeps the cash and issues new shares at market price value. Since it is a premium to BV it is a good deal for the existing shareholders and increases the BV for all. Should the mkt price be less than BV they will purchase the shares with the Reinvest Divvy cash.