Investors who own prior to record date of May 15 will get 4 div. payments in approx. 9 mos. That works out to an annual return of about 4% at $1.25 stock price. Considering the near 0% return on money mkts. and CD's and the fact that $1.25 is a very large discount to book value, even though it carries the risk of a stock I have to believe it makes LOAN very attractive.
Great results. Revs. up 36%, net inc. from 115,000 to 178,000, up 50%. We may still have some overhang from the 5% holder who has done some selling. They won't be around forever, however. and I have to think that in this market someone will take this co. seriously at some point going forward. This stock should trade higher than book (as most of it's peers) and book is now about $2.01 according to my calculations. As far as the mil. shrs. for Assaf, he can't sell them for something like 15 yrs. and he had to pledge his personal assets to back the Sterling bank loan. He certainly deserves some form of compensation for taking that risk. How many CEO's do you see putting their money where their mouth is. (In addition to his 50% stock ownership in LOAN) If there were ever a reason to do everything in ones power to make LOAN successful, Assaf has it . I hold him in high regards compared to most CEO's as far as integrity and willingness to back this co. with his personal assets. Lots of #$%$ cos. out there selling at ridiculous valuations. This one is real and consistently growing.