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Paragon Offshore plc Message Board

  • Raidders Raidders Jan 10, 2012 4:38 AM Flag

    Dividend Loss ??????

    Yesterdays dividend I calculated at .259 per share vrs the last few years at .62/share. Yield now shows at 1.9%. What happened ??? This is a significant loss in income.

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    • Ckeck out Pepco Holding that I also own it is paying over 5% and has a better analyist rating.

    • Yes my previous dividend check was over 800 now I am looking at on for 350.69 sooo
      I will sell and buy BKH for 4.9% yeild.

    • Also, look at the history:

      Declared -- Record -- Payable -- Amount Type
      01/19/2012 .. 02/17/2012 .. 03/16/2012 .. $0.62 Regular Cash
      12/14/2011 ..12/28/2011 ..01/09/2012 Partial dividend of
      25.9 cents per share Regular Cash
      09/16/2011 ..10/11/2011.. 11/01/2011.. $0.62 Regular Cash
      05/11/2011.. 07/11/2011 ..08/01/2011 $0.62.. Regular Cash
      03/16/2011 ..04/11/2011 ..05/02/2011 ..$0.62 Regular Cash
      12/08/2010 ..01/10/2011 ..02/01/2011.. $0.62 Regular Cash
      09/17/2010 ..10/11/2010 ..11/01/2010 ..$0.62 Regular Cash
      05/12/2010 ..07/12/2010 ..08/02/2010 ..$0.62 Regular Cash
      03/17/2010.. 04/12/2010 ..05/03/2010 ..$0.62 Regular Cash

    • From the PGN Website:

      Dividend History

      Declared: 01/19/2012

      Record: 02/17/2012

      Payment: 03/16/2012

      Amount: 62 cents per share

      Type: Regular Cash

    • I find the dividend, unacceptable! DON'T punish the stockholders, for they will punish PGN right back!

    • The dividend is obviously associated with the merger which was supposed to occur this month; however Progress extended the merger out until July. This will result in dividend losses for at least 3 quarters.

      • 1 Reply to eaker.david
      • I suspect the board will go back and issue a special dividend for the balance of the normal $.62 if they can not get the merger done in time for shareholders to draw the regular DUK dividend (I think/hope). Not a big deal on the shares I have in discount broker account. I could just sell PGN and buy DUK before the ex-date for DUK if they do not fix it.

        The ones that will be a pain are the odd few shares I have in a full service account, as to do the above would result in more buy/sell commissions than the difference in the dividend loss amounts too.

        Must say however, if they do not make it right and I have to sell the stock, I might just look for one that I do not have to worry about management breaking it off in me again (but again I think they will make it right and this will be a none issue). I suspect they do not want to go into the merger with any shareholder doubts concerning their ethics. A small time chump like me matters little, but there are lots of dividend funds that will not tolerate this.

        We'll see


    • RALEIGH, N.C. , Dec. 14, 2011 /PRNewswire/ -- Progress Energy's board of directors today declared a partial dividend of 25.9 cents per share on outstanding shares of Progress Energy's common stock. The dividend is payable Jan. 9, 2012 , to Progress Energy shareholders of record at the close of business on Dec. 28, 2011 .

      The board of directors declared the partial dividend in order to align Progress Energy's dividend payment schedule with that of Duke Energy (NYSE: DUK - News). The partial dividend is based on Progress Energy's normal quarterly dividend of 62 cents per share, pro-rated for the difference between Progress Energy's most recent quarterly dividend record date of Oct. 11, 2011 and Duke Energy's most recent record date of Nov. 18, 2011 .

2.09-0.1100(-5.00%)Jan 30 4:05 PMEST

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