I had to do a little research to make sure you were correct...nothing in the headlines about TCHC suspending the dividend...then I came across the following excerpt:
April 5, 2010 4:33 PM EDT
21st Century (Nasdaq: TCHC) today announced that it's FNIC subsidiary has received a $10 million capital infusion.
The $10 million infusion consists of $5 million from 21st Century Holding Company and a $5 million Subordinated Surplus Debenture from American Vehicle Insurance Company, a wholly-owned subsidiary of the Company. The capital infusion has been approved by the Florida Office of Insurance Regulation, and Demotech has since affirmed FNIC's "A" rating.
Mr. Michael H. Braun, 21st Century Holding Company's Chief Executive Officer and President, said, "We are pleased to have completed this infusion and maintained our credit rating. Our 'A' rating with Demotech is critical to our business plan and our ability to write and retain business. The rating is valued both by the insurance agents who sell and service our products and by the mortgage companies that underwrite our insureds. Although we will temporarily suspend payment of future dividends, the Board of Directors and management team remain committed to returning capital to shareholders through the use of a dividend, and we fully intend to reinstate it as soon as possible."
Most new investors research this stock and think their getting a 7.6% Dividend, even my Broker asked me if I want to reinvest the Dividend for this stock and I had to tell him it was suspended? New investors must read the fine print or their in for a big surprise! exposing this because I want to buy more shares at a cheaper price. At least I'm honest. LOL!