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FED Continues With Reliable Dividend
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Written by Nicolo Luminos
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Monday, 15 December 2008 |
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For SLReports.net
Ford Edelman Designs (FED : ACE) may have seen a turmultuous month for share values, but the dividends came in just as reliably as ever.
Since relisting at the Ancapistan Capital Exchange (ACE) in May, 2008, FED(ACE) has paid dividends each month, including a large dividend in May to make up for the months that FED(ACE) and shareholders were held captive on the World Stock Exchange (WSE).
Interim CEO Ashleigh Wade stated in the official press release, "This month we saw the value of FED shares fall from 3.99 to 2.90 at month end. This affected the value of our treasury shares and resulted in a loss for the month of (L$24,101). Since the summer began we have taken significant writedowns on our portfolio, which is valuated monthly. This has resulted in consistent paper losses. However, the core business remains cash flow positive, and if we hadn't seen the value of the stock fall it would have resulted in a net of L$5,344 after dividend."
FED(ACE) has holding in BCXS(ISE) and BNTFRE(ACE), in addition to over 28,000 treasury shares.
Wade is also personally funding an expansion of operations to the sim of Tamaque, which he hopes will increase presence and accelerate sales of their Double Team product.
Wade also reminded shareholders that Ford Edelman is expected to return to the role of CEO in February, 2009.
FED(ACE) strongly maintains it's 5-Star Luminos Dividend Rating, and has a 6DYA (6-Month Dividend Yield Average) of L$0.010021928.
Even though FED(ACE) was trading at L$2.90 at the end of the November reporting period, which resulted in a Net Asset Per Share of FED(ACE) being L$.91, it opened today's trading day at L$1.48, significantly below the 30-day rolling share price average of L$2.41 on the 30 day rolling volume average of 646 shares trading per day.
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Last Updated ( Monday, 15 December 2008 )
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