With the tremendous progress the bank is making, the time seems ripe for a common share dividend. In the majority of cases, the stock price in the next three years after a dividend is implemented does much better than the markets. Remember, this company used to pay a quarterly dividend of $0.20. More money should be available for this since they bought back $10 million of the prefs.
As I mentioned on the conference call today and have stated previously, I think that this would be the best option for shareholders. And a great acquisition for another company. I can easily see $3.50+ for the company. And the payout to Aspen is negligible.
At the AGM last week, I specifically asked about selling the company. Management said that they are open to it. This enterprise would make a great fit for a larger player. Hopefully it will come to pass and if it does, it should come at a significant premium to the current stock price. I would think that a price of $4.00 to $5.00 would be reasonable.