First purchase. My thought is the risk/reward at this level is solid. Guess I will see. If shares go lower I'll make my second purchase. To me the company's press release yesterday spoke volumes. If the people running the company believe the current share price is undervalued I believe the stock will eventually rebound, and I'm more than happy to patiently wait with the 10% dividend.
Not to disagree but from an inquisitive point of way, what would you really expect then to say. "We agree with the markets shellacing, we deserve to be spanked but we can always try harder". Don't think so. I am considering buying more but am a bit reluctant as div cuts are never good or good news. We'll see what brews today after ex div day.
Your continued opinion is appreciated.
If the company thought the shares deserved the shellacing due to poor business, poor acumen, or poor prospects they would say nothing. Management obviously doesn't feel this way. Dividend cuts really freak investors out. A divy cut does not necessary mean an instant red flag. It depends on what the additional money will be used for. We'll just have to wait and see what takes shape.