I as a long term shareholder remember Farmers in the good ol days of a very high dividend and the PPS being up substantually higher, so when the Div. was cut to near nothing then the mang.Wanted to list on the Naz, started and Insurance Co, along with buying the Trust Co. from UCFC at a time when most people were going conservative and holding back from expansion - I watched the PPS plummet to what it is today.
Taking in concideration of the entire economical situation within the World, Country and the Mahoning Valley - Farmers has successfully started to grow the Insurance Co. coupled with the Trust Co.; both are supoposely self supporting and showing a profit as the financial sheets should show; (they still pay out a dividend); I will give the management team a simple apology / and continue to follow their lead in the growth of the entire group in hopes this new stock offer and expansion of (shares/to gain cash) helps them to obtain the main factors / Whatever plan they have? ; To obtain the Goals of Increasing our Value Overall - which hopefully comes together and moves the PPS up to the old level, and starts to pay out a better dividend. (2 year period time frame). > IMHO <
Hopefuly the management team will also show some support and buy a little open market stock to show their increased belief in what their actions are expected to bring, and not building cash to pay out bigger bonuses.
Skeptical - yes, but believe enough in Farmers to increase my position, I just like to verify my DD / assumptions as much as possible also.
GL to all and Have a Healthy, Happy, Safe New Year - 2011.