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Nicholas Financial Inc. Message Board

  • dtejd1997 dtejd1997 Jan 30, 2013 3:10 PM Flag

    Status of dividends

    Hey all:

    Earnings are out today and it is a little bit of a letdown...$.06/share was due to Canadian tax on dividends. The rest of the earnings decline is the result of increasing charge offs.

    I have got to question the reason for being incorporated in Canada. Anyone know about this?

    Additionally, no word on the quarterly dividend. Management stated it might not be continued...as the $2/share dividend was paid out. Any body know anything about this?

    Sentiment: Strong Buy

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    • judijak@att.net judijak Jan 31, 2013 11:37 AM Flag

      I remember buying years go when they were on the Vancouver exchange. Have no idea for the reason.

    • I was told they had not ruled out a continuing dividend.

      While they might not do a quarterly dividend, they can & might do an annual dividend. But right now, I guess we are in limbo regarding future dividend plans.

      I told them I think its important to at the very least maintain some kind of dividend just so that institutions who only hold/buy dividend paying stocks wont be forced to sell or unable to buy.

      As far as the canadian listing, I think it was something to do with the way they set the company up and it would apparently be more expensive to swtich than the costs & trouble the foreign dividends cause for us.

      I think it would be good for them to publicly announce that the dividend has not stopped, that, at the very least, they will issue a 5 cent dividend by year end.

      One thing that ticks me off. They ALWAYS file their 10q an hour or so before the press release comes out. If they are not going to come out at the same time, the PR should come first.

 
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