Apr. 19 at 4:14 PM
$FLO Agree, but my take would be - FLO leadership/Board should either cut Div in half or cut in total with a defined plan, to guarantee debt paydown (in writing) and not just give themselves outsized bonuses and stock compensation with the savings. Far too often, that is what comes into play for significant corporate events where money is on the table and the Board and CEOs tend to horde it to themselves. FLO is not a REIT, not required to pay out a minimum portion as a Dividend. Not required to pay any dividend, which is why it is Poor Strategy by the current Board to keep paying a Div as Debt drags down the company. Best way to get the stock back over
$20? Cut the Div altogether. And when the stock is over
$20, have limited ATM stock sales to get cash to pay down/off that debt, but don't start ATM until a minimum stock price level (don't start selling shares right away or the stock won't trade to
$20+).
