The Company does not pay a regular dividend. In the past two years it has paid two special one time dividends of $0.40/share each. There is no guarantee that these will be repeated.
For this stock to reach its true value (>$12.00/share)there needs to be 1) clarity on the capital structure 2) stable operating performance 3) assurance of no dilutive acquisitions and 4) a modest, but regular, quarterly dividend. In other words - stability.