It is my belief that most investors didn't buy PBY for the dividend. With the economy in shambles why use the money in other areas where it would bolster PBY. Now is not the time to try untested ideas. Customer Loyality, Employees and debt should be at the core of what I believe the Dividend could be spent on.
Well little Patrick, it is very true that PBY should not be paying a dividend.
They have insufficient earnings to pay it out of. In fact they have no earnings at all. In the last 12 months PBY has lost 79 cents per share. Good management does not try to pay a dividend when there are no earnings from which to pay it.
And why try untested approaches? Just return to the tried and true approach of the past -- provide good reliable service at a very reasonable price and don't play games with the customers minds.
Patrick is very quiet on the performance of the boy wonder Jef who was claimed to walk on water and enbarked to save the company with a positive shake up.
They pay the dividend out of the fund that they would have paid for employee raises and benefits. Evidently they think they can do without employees but not share holders. I think that Jeff and all the big wigs he brought in should turn their raise back over to the company to pay down debt and then we will be impressed and willing to work for the same money as last year, when every cost in their lives is going up.....