I think MM holds this stock price today so people like us will buy stocks becasue of today's dividend and then Monday they will bring the stock price down. Any one knows if the SSW stock will go down on Monday.
IMO the divvy is relatively insignificant at this point and I'm pretty sure even buying today is too late. I believe ex-div was a couple of days ago. You want to be in this for at least the fill of the downside gap back up to 10 and RSI around 30 (oversold). Wacky inaccurate downgrades and extreme dumping on divvy cuts don't come around very often and you have to buy them if they do.
SSW and DAC = Container Shipping
EGLE, DRYS, etc = Dry Bulk
Going up? Going up from what point? Maybe take a look at EGLE. Look at their chart and dates of various announcements. You will see a different story.
SSW is done, or darn near done going down. If you want to make some money, I suggest you buy now. New money will be coming in.
This was owned by income investors. A lot of them just got burned. So they sold. Sold in large droves. There is also some fear about China and the world, etc. Dilution is never good.
What will happen is new money will flow into this. That same group of income investors will now see SSW as a cheaper stock paying a nice "divident". This company is way better positioned then most all of the Dry bulkers. Note: DRYS Recent fund raiser/share holder raping.
Now is time to buy this.
They no longer pay a Dividend, only a Divident now:
Websters - Please note: A divident is a term made popular during the 2008-2010 Recession/Depression referring to the now poor, long term investors who previously harvested dividends on their beloved stocks.
Divident can be used in place of Dividend when a company drastically cuts their regular dividend. For example, Seaspan (SSW) previously paid a dividend of .46 per quarter. On 4/28/2009 they cut their dividend to .10 per quarter. Their Dividend can now be referred to as a "Divident".
Dividents may once again be referred to as Dividends once their yield surpasses or returns to their previous level before becoming termed a "Divident".
Divident Declaration Date: Apr-15-2009
Divident Ex Date: Apr-28-2009
Divident Record Date: Apr-30-2009
Divident Pay Date: May-15-2009