When I purchased this stock in 2011, the dividend was 40 cents per share, and the yield was 16%. Not only do I have a significant 23% decrease in the price per share at today's close, the dividend is now nearly 43% lower, and I have a yield of 9.2%. Definitely one of my poorer investment decisions. I have kept the stock thinking that performance would improve. My mistake.
Dividend reduced by 18% from 28 cents to 23 cents. As if the major drop in price per share over the past year has not been bad enough, now we suffer a major dividend reduction. On 7/25/14, this stock closed at $13.17. Today, it closed at $8.82. For the past FIVE years, the dividend has been 28 cents per quarter. I can't wait to see how much lower the PPS goes tomorrow.