PRM ex-dividend on 8/30 (13%, special)
Primedia, a publisher of free consumer guides, will pay a special dividend of $2.150 on Sep 7th to holders as of Thursday, August 30. That’s 13.2% of the share price of $16.300. The company delivered lukewarm results this month. With 76 percent of (advertising) revenue coming from Rentals.com, this stock is tied to the real estate market to a certain extend. So be careful here even if the stock has been quite stables over the years.
August 23rd, 2007 at 1:43 pm
Deusche Bank upgraded it to buy from hold 8/3/07 at $14. With home ownership problems there would be even more call for the type of material Primedia produces and distributes in hard copy and on the internet. Seems to me they have a strong business and a necessary one come he** or high water. People need a place to live whether they can afford it or not, whether it is bought or rented. IMHO
August 23rd, 2007 at 3:01 pm
I have a question which may make me sound like a novice and I am. Why would a company declare such a large dividend after just taking on more debt? Does that make sense.
August 23rd, 2007 at 4:36 pm
Taking on debt to pay a dividend is always a red flag IMO. I’ve seen companies doing it following some bad news or to stop a long downward slide of the stock. PRM has been pretty flat though.
August 28th, 2007 at 4:50 pm
It says on smartdividend.com it will pay to shareholders as of Aug 30 but on tdameritrade it say paid to shareholders as of sep 4 what day should i sell prm?