The Stunning Number That No DryShips Inc. Investor Should Miss
Earlier this week DryShips (NASDAQ: DRYS) declared the third dividend since its surprising decision to initiate one earlier this year. Like its previous payouts, the company stated that it would hand $2.5 million out to its investors, though it would determine the per share amount based on the number of shares it had outstanding on the record date in August. It's a unique twist that's born out of necessity since the company's outstanding share count has been anything but static this year.
That's evident by looking at the latest update of the company's key financial information, which when compared to the prior one shows another remarkable surge in the share count. The dilution has gotten so out of hand this year that shareholders tried suing the company to stop it from issuing more shares. However, that attempt failed, which means that more dilution is on the way thanks to an agreement the company has with another investor.
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Source: Fool.com
