GASS to dividend or not to dividend?
AMERICAN RESOURCES OFFSHORE, INC. ANNOUNCES CASH DIVIDEND
American Resources Offshore, Inc. (the "Company") today announced that the
Company's Board of Directors, on June 20, 2001, declared a special cash dividend
of $0.02 per share on its common stock, par value $0.00001 per share. The
dividend is payable on July 12, 2001, to stockholders of record on July 2, 2001.
Wonder how they are doing this, found this statement on their
10K405, filed 4/2/2001, contradictory don't ya think???
"We have not paid, nor do we intend to pay, dividends on our common stock or
cash dividends on our Series 1993 Preferred Stock in the foreseeable future. We
intend to retain earnings, if any, for the future operation and development of
our business. In addition, the payment of cash dividends on our capital stock
is prohibited by the terms of our credit facility as discussed in Item 7,
"Management's Discussion and Analysis of Financial Condition and Results of
Operations."
Regards
sprintcar |
