You may have noticed that PFLT is trading close to its annual low of $12.69. That's because, when the MCGC/PFLT combo starts trading on Tuesday the price is going to plunge, maybe below $10.
Chile rises and falls with the price of copper. CH is less than 0.25% of my dividend paying investments, so I am not losing any sleep over its precipitous fall from grace. Will continue to re-invest dividends and see what happens over time.
The dollar is headed for parity with the euro, great for my European vacation this fall, but bad for the performance of foreign funds. I have been in this for many years and bought more at $9.95 yesterday. I would not be surprised to see this punch down to $9.50.
In '08, when the stock was at $28 they paid out $2.768. For it to go above $32, as you suggest, the dividend would have to increase to at least $2.48.
Major scandals, government in political meltdown, inflation officially at 9% and drought. Thus CIG is buying electricity that they can not generate and the government will not let hem raise rates to compensate. So, CIG is withholding 50% of the dividend. On the first payout of the year we took a 63% unexplained haircut from what was announced. Projecting this forward I would expect a payout for this year of $.2425/share. I see nothing that will move their share price up. I would not be surprised to see the price go below $2.50 shortly. In Nov./02 the share price hit $.72. Might we see a 1 for 10 reverse split soon ?
They will re-submit a new plan by the end of the month. The market loves this. The share price is up over $2 per share. The question is....why ?
MCGC cited a potential loss of 13.35M in their filings if the HCHC deal was not consummated, not 25M. All Mr. Neu has to do is engage HCHC and then PFLT will have to increase it's offer or walk away. There is zero chance that PFLT would walk away from this deal for want of a better offer.
They have replaced their offer of $13.35M in HCHC stock if the deal does not go through to $13.35M in CASH plus the $7M in CASH for the break up fee tp PFLT. There would seem to be little reason not to engage HCHC at this point.
requesting that he formally notify PFLT of the superior offer from HCHC. This would force PFLT to either increase their offer or withdraw. He further requests that Mr. Neu engage HCHC in negotiations. He further states that if the PFLT offer as it is currently constructed is offered to the shareholders for a vote he will vote his shares against the deal.
paying a quarterly dividend of $1.068 per share. And here we sit at $.432 per share. This is sad !