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Data Update 8 for 2025: Debt, Taxes and Default - An Unholy Trifecta!

Musings on Markets

Equity is cheaper than debt: There are businesspeople (including some CFOs) who argue that debt is cheaper than equity, basing that conclusion on a comparison of the explicit costs associated with each interest payments on debt and dividends on equity.

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To Bitcoin or not to Bitcoin? A Corporate Cash Question!

Musings on Markets

The first is the role that cash holdings play in a business , an extension of the dividend policy question, with an examination of why businesses often should not pay out what they have available to shareholders. In this post, I will bring together two disparate and very different topics that I have written about in the past.

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Data Update 5 for 2022: The Bottom Line!

Musings on Markets

To make comparisons, profits are scaled to common metrics, with revenues and book value of investment being the most common scalar. The Value of Growth As investor tastes have shifted from earnings power to growth, there has been a tendency to put growth on a pedestal, and view it as an unalloyed good, but it is not.

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Salisbury Bancorp, Inc. Reports Results for First Quarter 2023; Declares 16 Cent Dividend

Benzinga

per basic common share, for the fourth quarter ended December 31, 2022 (fourth quarter 2022), and $3.5 per basic common share, for the first quarter ended March 31, 2022 (first quarter 2022). Net Interest and Dividend Income Tax equivalent net interest income of $11.3 million, or 33.8%, from first quarter 2022.

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Data Update 1 for 2024: The data speaks, but what does it say?

Musings on Markets

I have also developed a practice in the last decade of spending much of January exploring what the data tells us, and does not tell us, about the investing, financing and dividend choices that companies made during the most recent year. Dividends and Potential Dividends (FCFE) 1. Dividend yield & payout 3. Buybacks 2.

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Mid Penn Bancorp, Inc. Reports First Quarter Earnings and Declares Dividend

Benzinga

With the success of the first quarter, the Board announced a quarterly cash dividend of $0.20 million, or 10.7% (annualized), from the fourth quarter of 2022. Loan growth was 11.2% (annualized) during the three months ended March 31, 2023 from the fourth quarter of 2022. Book value per common share was $32.15

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The Corporate Life Cycle: Corporate Finance, Valuation and Investing Implications!

Musings on Markets

In 2022, I decided that I had hit critical mass, in terms of corporate life cycle content, and that the material could be organized as a book. With declining businesses, facing shrinking revenues and margins, it is cash return or dividend policy that moves into the front seat.