Next quarters results will be bad. Dismal. But we know that. Last year in Feb, during the conference call, they spoke about the dividend and told everyone to watch for an announcement around the time of the 20-F filing. The 20-F was filing at the end of April. In May they announced a new buyback (which I expect them to repeat). Then Q2 release for Aug again will be brutal, but no surprise there again. Then we are off to the races. Q3 will be big and Q4 will be huge. I can understand people waiting until late in the year next year, but I'm reluctant to believe this will just be on cruise control until Nov. Especially with the run up that has been going on over the past month+.
I'm thinking we will get a 50% increase to the dividend to .06 quarter and another $20 million buyback announcement. These two moves, themselves should keep things moving along. In May 2014, we should be up to .08/ADR. That with the share price should get this up to $7-8 share. I see this as a 100% return through the next 16 months.
I like being positive, but I am not seeing a dividend increase until new completion of properties...and I think as long as building continues to strenghten in the US and in China...and it appears that things are starting/will continue to strengthen...the price will slowly craw higher...I would just like to see us break the $3.90 today...or $4.00 if anyone wants to bid it up there ;-) I am holding..I know maybe boring to some..but that is the way I like it ;-)
If you read through the transcripts, Tom will say stuff like - there's plenty of room to increase the dividend over time. I think he's said it at least twice in the past few earnings reports. I think they would have been comfortable with a higher dividend, but as Tom stated - they are novices with quarterly dividends, so i think they went a little conservative.