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Strategies & Market Trends : Value Investing

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From: Steve Felix	9/3/2014 2:45:26 PM
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Anyone here checked out PGN? From what I've read, payout to be 80/90 million annually on 85m shares. Value somewhere, or junk? Obviously someone thinks junk. $17.50 to $12.90 its first trading day. Now $8.75. "According to historical financial statements for 2013, standard specification rig business generated $822 million in cash flow from operations and $456 million in free cash flow. Paragon Offshore plans, initially, to spend approximately $85 million annually to pay a regular quarterly dividend. Such payout would provide a 9.9% dividend yield, based on the August 5th closing share price." thestreet.com paragonoffshore.com

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