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Non-Tech : Ritchie Bros. Auctioneers (NYSE: RBA)

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To: DoubleOddBuck who wrote (5)	3/5/1999 1:50:00 PM
From: LBell	of 12

There was a short article in today's Financial Post (March 5/98) about Ritchie Bros. being down 13/16 to $31-1/2, on volume of 48,100 shares, probably due to no dividends being paid. ====================================================== "The company said it won't declare a first-quarter dividend to save cash for the acquisition of Forke Auctioneers. Ritchie Bros. stock has been on the move since the Feb. 22 announcement. Ritchie Bros. had said earlier a first-quarter dividend was possible although the company hasn't paid any dividends since going public a year ago. The Richmond, BC-based company also reported fourth-quarter earnings yesterday. For the period ending Dec. 31 net income was $11-million (66 cents a share) on revenue of $30.6-million which compares with net income of $607,000 on revenue of $25.1-million for the same period a year earlier." ===================================================== Maybe I'm wrong but wouldn't it seem prudent to be keeping money for the acquisition of Forke rather than turning it over to shareholders at this time?

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