Outflows continue - nothing more needs to be said regarding the quarterly performance. Losing 10% in a single quarter is pretty big.
They can keep buying back all the shares they like until they've burned through all the money. The shares are going to ultimately be valued on the company performance, not some artificially determined floor. Once the buyback is completed, that's where the shares will quickly go.
Why not simply let the shares trade to the price that the market determines, and then buy shares? Maybe that's $7, or $5, or $2 - whatever it is, let supply and demand make that determination. You'd be able to buy lots more shares at lower prices. Certainly the dividend/rate should provide a natural floor all on its own - so just let the shares go to its market-comfort price.
It's clear at this time that they are fighting against the market to support the stock price as opposed to being able to buy shares cheaply.
Bottom line - the company performance does not justify the current share price. Using company money to try to convince the market otherwise is an exercise in foolishness.
Have to agree with you. The results speak loud and clear. The shares may need a 50 % haircut before I start
To buy. Many other good places to park your money at the present time. Is the dividend Safe ?????? I wish them luck but the environment as far as I see is questionable. DD. Maybe I'm missing something or don't see something that supports a buy.