Biloxi Marsh Lands Corp (BLMC) in Forbes, Declares $2.00 Dividend
Tiny pink sheet company Biloxi Marsh Lands hit the big time recently with a mention in Forbes Magazine. Pink sheet companies rarely get that kind of coverage, especially in such financial media giants such as Forbes.
Louisiana based Biloxi, owner of 90000 acres of marshland in St. Bernard Parish, which it leases to natural gas companies, is up 20 percent since we purchased shares back in late June. It’s been no steady ride, though we’ll admit. Such companies tend to trade in a very choppy fashion, up $3.00 one day, down $2.00 the next, followed by flat prices for weeks, and also tend to trade at relatively high bid/ask spreads.
The company also recently declared a $2.00 dividend, payable October 12th. This puts the trailing 12 month yield for Biloxi at 10.8 percent percent based on $4.00 in dividends, and a current market price of $34.50
For more on Biloxi, please see our 5/29 report.
*The author has a position in this stock. This is neither a recommendation to buy or sell this security. All information provided believed to be reliable and presented for information purposes only.