The board of Mapco parent Delek US Holdings has voted to pay out a special dividend of 18 cents per share next month. The move will cost the company about $10 million above and beyond its usual quarterly payments, but that's no biggie: Delek — whose shares are up more than 90 percent year to date — finished the second quarter with almost $150 million in cash on its books.
“Our decision to issue a special cash dividend at this time reflects both the current financial strength of our business as well as our Board’s long-standing commitment to maximizing returns for our shareholders,” said Uzi Yemin, President and CEO of the Brentwood-based holding company.
The Bloomberg dividend forecasts are based on seven criteria, including company guidance, regression analysis, and put-call parity from the options market. The projections had a global accuracy rate of 88 percent in the fourth quarter, compared with 76 percent for market analysts.Through the first nine months of 2010, funds from operations at Murfreesboro-based NHI were up 8 percent. Its shares (Ticker: NHI) are down 3 percent in the past three months.
[T]here is no doubt that the company must be (at least partially) recapped; however, raising capital currently is a difficult proposition even for healthy institutions. Given the current buyers’ market for open bank deals, exploring the option of finding a partner is not easy either. Simply put, GRNB has no easy options unless 3Q10 results truly represented an anomaly and management is able to right the ship over the next quarter or two.Saying there is "little value in piling on at this point with a downgrade," Muth is keeping his 'neutral' rating on Green Bankshares shares (Ticker: GRNB), which have lost more than 80 percent of their value in the past six months.