Maintain Guidance and Increasing Dividend to Yield 6%
I have never owned stock in a company where the management understood the concept of shareholder value the way these guys do. Buying back shares as a way of maintaining their full year guidance is brilliant. Then to increase the dividend was the icing on the cake. One thing is very apparent, someone is completely out of touch with reality. Is it the talking heads who claim Gamestop is falling off a cliff, or management who are increasing the dividend by 66% while falling off the same cliff? I think the next 12 months will clear up the big picture. If they do end up going over the cliff, I plan on bailing before that happens, but I also plan on following them all the way to the edge.