Why was this idiot CEO paying a cash dividend for so long...
....if we are now diluting the shareholder to kingdom come? That smacks of financial suicide, utter incompetence, or PURE SLEAZE. If we would need to raise cash in this way, they shouldn't have been paying out capital, or buying back stock a few years ago. This dilution is criminal!
why pay a cash dividend so long? Hey, a guy's got to put food on the table.
That's the best I can do.
Other than that, dry bulk is dead for another year or more. Product tankers are a better play in shipping. Maybe you should sell sblk and buy either CPLP or NNA. If you want dry bulk, maybe SB. But SBLK is a lost cause.
Of course they'll point to insiders taking a beating, too, and that all will be fine when the shipping market recovers. With this recent offering, seems like a company "reboot" which may work out for new shareholders(bagholders?) although for the rest of us, we have a long way to go.
At least we're not bankrupt, so I suppose it could be worse.