Avoca(AVOA)Declares Dividend: $720
Today, Avoca Inc declared a $720 dividend payable 1/31/07 to shareholders of record 1/12/07. The stock will "trade" (quotes around trade because the stock rarely does) ex dividend 1/10/07.
We were slightly disappointed with the amount, despite the indicated yield of 11.43% based on the most recent bid price of $6300. As you may recall, our 12/01/05 Avoca update suggested a dividend of between $800 and $1000.While we were out of range on our estimate, that brings total distributions over the two year period we've owned Avoca to $1470 per share. (We paid around $28.25 share prior to the 1 for 100 reverse split/delisting). No complaints here.
*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.