Tells me that the market already knew this dividend increase was in the bag. I suspected an increase and I know dirt, so the smart money I'm sure knew.
Also, it would be down A LOT more than if the increase had not been announced. Remember that we've come very far, very fast in this stock. Especially considering the industry - not exactly a high-flying tech stock here.
I'm pleased with the announcement and bought back a few of the shares I sold higher the other day. The P/E may be in the stratosphere but I'll take the now 6% yield.
Indeed. This is one way that buying opportunities in individual stocks are created. Not calling a bottom here (the market has taught me humility if nothing else) but just saying that I'm glad to own a bit more of this company at the "new" 6% yield today.
At 4% there were much better opportunities. Like DEP. My DEP is up 25% today and I've never sold a share (it's in a DRIP). Sorry, had to brag a little :-)