Yes, I am really disappointed. Based on past history I thought it would be the biggest of the year. I bought it for the income since it had a fairly high yield. Their investor relatioins told me this:
DRW holds PFICs (Passive Foreign Investment Companies) in its portfolio. PFICs must mark to market each year (in Q4) and realize a gain or loss in those PFIC shares. PFIC loses are offset against PFIC gains, and then against portfolio income. The PFIC losses for DRW this year wiped out the gains and Q4 dividend income, therefore, no dividend distribution for 2011.