I think SAR is the cheapest BDC right now and very much under the radar since this stock did not shoot up on yesterday's news. Once the higher dividend rate shows up on the screens then it will attract some attention. We shall see. P. S. I bought more today
Ok forever, I listened to the call and this issue was brought up in the question section. The bottom line is that at the current rate they are only paying out 50% of NII and they plan on complying with the 95% rule. They plan on increasing the dividends going forward and . If you go to Seeking Alpha you can read the CC transcript. Even though I own a bunch of this I will buy more down here because I believe it will go up towards NAV in the not to distant future once the market sees the Dividend yield is well north of 10%. Don't expect a dividend increase announcement for another couple months.
Yes, google BDC 's required payout. General rule is they must payout 90% of taxable income. So I think there will be a catchup payment in the future or else they pay taxes which would be stupid. I have to listen to the call to see if this was brought up. I am busy at the moment but will get a chance later and report back.
They also have plenty of fire power with an additional $ 110 million of borrowings still available. They run a conservative portfolio and have a lot of share ownership . This BDC is dirt cheap. I also think they will to raise the dividend or pay a special dividend to avoid paying the penalty tax for not paying out the NII. Should be up today.
Why would shorts bury this news ? The quicker they pour money into this pipe dream the faster this company spins totally out of control. Why you ask.? Because they do not have the cash to complete this project since no partners stepped in. Panasonic 's contribution comes in after the construction. Watch how quickly the $2 billion disappears from the balance sheet.
This all assumes that the giga factory gets built. My point is that they do not have the cash to see this through and they can not halt the construction process right now because then the whole scam comes to light. This project and progress are very visible so we will be able to monitor it. However at some point the contractors will be walking off the job when the cash runs out. From what I see from the photos they are doing site preparation and doing some foundation work.
This is a classic case of taking on to much at once. I think 2015 will be very enlightening . I also think they may have a rough time with this years audit. We shall see.
As usual they fail to mention that that they have $850 million in accounts payable and current liabilities that eats into all the good stuff they mentioned. I repeat they need to raise a bunch of money n
ASAP while everyone still has their rose colored glasses on towards this company. In another few quarters they will be desperate .
There has been almost no conversation on how Tesla will come up with the additional $ 2 to $ 3 billion needed to construct the giga factory. We know the cost is estimated to be $5 billion and Panasonic has agreed to run it and supply the equipment which is estimated to cost be $1 billion. Since no other partners have materialized it looks like Tesla's share is $4 billion since they agreed to fund the construction of the building. They have $2 billion in cash which is decreasing every quarter plus at 9/30/14 they have a current assets that are dwarfed by their current liabilities. So being generous where do they get the other $ 2 to $ 3 billion of cash needed ? As a side note Panasonic's commitment comes in after the construction is completed and is staggered as more equipment is supplied on a as needed basis. So Panasonic is really in a wait and see mode and really has no skin in the game.
Google Tesla Giga factory and you will find pictures of the construction site. It looks like they have broken ground and are working on the foundation. If they stop working on this project than the gig is up because many eyes are watching. Elon will have a lot of splaining to do. I can hardly wait to here the delay excuses. Where are all the partners that were supposedly biting at the bit to fund this this thing?
Are you not leaving out the billions of $$ of dollars they will be sinking into the Giga farce. From what I have read the partners never materialized and they will need to put in the bulk of the money. I think their share will be like 4 to 5 billion.
If the OP posted a untruth then he was simply following the mantra of the Tesla management team. Lie, confuse and deceive under all circumstances.
Sold it . Now have a go fast CC. However I repowered the Bertram with twin 4 cylinder Yanmar diesels that burned 6 gallons a hour at cruise ( 12 GPH combined) . Cruise was 28 mph. Very economical.
Discussing the gross margin charade. The longs have been unable to come up with coherent rebuttal . So as usual they resort to name calling etc. LOL