The web site may be up, but I've had no luck in transmitting an email to management. What is your experience ? My occasional queries / comments to the company ( both management and investor relations ) have never garnered a response.
I can understand their reluctance to initiate a dividend if the funds can be be used productively in growing the co. But I cannot understand the failure to repurchase shares. This not only sends a positive message to the investment community, but rewards shareholders who have endured well over 5 years of no appreciation , or of losses, on the stock. I encourage my fellow shareholders to communicate this to management and to Investor Relations if you agree with my premise. A $2M share repurchase was authorized several years ago, but never consummated. Considering the cash on hand, a five million share buyback is quite doable.
As of 3/5/16, the co. noted that if all energy investments were put on non-accrual, NII would decrease by .05/share/quarter. Of the 11 firms that have been on non-accrual since the firm began, 80% of capital invested was recovered. The co. has .53/share of undistributed income that can be used to protect the dividend .