My thinking is that IF they may do an SO later this month, why not wait to BUY? I'm thinking that the share price will go down once they announce it. And that will be an opportunity to get into this stock on the cheap.
ARR did that last week and the share price tanked .40, which was a gift to me. I bought and the share price quickly recovered. Now I get that appreciation AND the divvy too.
Even if they were going to do one they would wait till after Xdiv. Meanwhile the SP continues up. Also they are coming off a very good QER and could demand $12.80 for any SO. But no real reason to do one yet. So, if you wait you will miss the current div and maybe not get such a good price if they don't do one. If it worries you, hold back a little powder and buy calls if a SO is announced. That way you maximise your opportunities regardless of an SO or not.
This shows dividends going up during the last couple years. If you look at the earnings reports you will also see the earnings/share have been going up; the last Q was $.74/sh. Apparently the facts do not support your beliefs for this stock. So; who is dumb??