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Star Bulk Carriers Corp. Message Board

  • fiat fiat Dec 14, 2011 2:39 PM Flag

    Pink sheet?

    Is SBLK becoming a pink sheet? How soon will we be down under ? (now or already?)

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    • The BOD sure could have been allot more supportive of share price by stepping forward and clarifying the exact terms of the dividend policy going forward. I believe that it was Radnoc who inferred, the changes are telegraphed, but I would like to add that they will not be accepted. The company should have plodded forward with the current dividend until 2013 when things should start turning around. I understand the argument against paying the dividend out of depreciation, but the market is going to punish this move with interest.

      • 2 Replies to electrothought
      • CEO gave three vieo interviews in the last two moths where he more than hinted that the dividend would NOT be cut. He stressed over and over again the size of the dividend and the fact that it was paid for 9 (now 10) straight quarters. He also stressed the refinanced debt for which the company needs to pay 35 million for each of the next two years, and the fact that they have 65 million in cash, so that there is no threat to the dividend.

        that was my take on chance of dividend cut...

        Also the last two ships to be renegotiated on leases were both done at higher than expected rates, so things seem to be turning up a bit in the industry, and this should bode well for the Supramaxes coming off lease in 2012...

        20% yeild if you buy at $1....hard to beat that anywhere.


      • I don't follow your post? ARe you saying they have said no dividend in 2013? Or are you saying they should announce the 2013 dividends now?

        The financials don't look good frankly and the recent purchases were terrible decisions. Time will tell.

    • I believe the ask has to be below $1.00 for thirty consecutive days (and that's why they are putting the ask price at $0.9985 instead of $1.00).

      • 1 Reply to buy_bye_bi_by
      • I was close but wrong. It's the final BID price must be above $1.00 to be in compliance with the listing requirements. If the final bid price is lower than $1.00 for 30 consecutive days, the nasdaq will notify the company of potential delisting. Once a stock has gone under the $1.00 bid for 30 days, in order to circumvent a delisting, the company would then have to maintain a closing bid of over $1.00 for ten consecutive days to regain good standing.

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