Very disappointed in this decision. With the stock so severely undervalued we get less than optimal value for selling stock. And now there are 30% more shares outstanding for $24million. Totally not worth it.
Especially with interest rates so low, debt would've been a far better choice.
I thought they could've done at least .50 last quarter but that didn't happen. This quarter I haven't a clue because of the impact of the increase in purchasing reinsurance. The bottom line might be skewed this quarter, but going forward things look quite positive.