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Dover Downs Gaming & Entertainment Inc. Message Board

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  • incompetent98 incompetent98 Jan 28, 2010 4:59 PM Flag

    Dividend...

    I'm surprised that the volume was so low. You'd think that the news would result in more than average volume and a steeper decline. Maybe we are close to the bottom!

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    • The news is not really bad. Even with Deleware's hands in DDE's pockets, the company earned $.40 from continuing operations. With the stock at $3.50 this is only a p/e of 8.75. The "new" $.12 dividend yields 3.4% in a low-interest rate environment. With current assets/current liabilities of 8/1, I don't see why the company had to cut the dividend, but what do I know as I labor in the obscurity of my Brooklyn basement. The table games should almost certainly allow the company to make more money from each location but again, who knows, as NYC OTB is the only bookie I know that manages to lose money. The timing of the releases upset me last night. The only release then was a terse announcement about the dividend cut. Why couldn't this wait until the earning release the very next morning? And how about a little detail on WHY. Well, this is life in small cap land. Patience is a virtue here. Good luck to all. H.

 
DDE
1.10+0.03(+2.80%)Jun 24 4:02 PMEDT