Interesting news at our Oddball companies this winter. Lots of special dividends, big asset sales, corporate transformations. It is coming at a time when value is cheap relative to growth. See this FT article
, "US small-cap stocks trade at historic discount to corporate titans".
The Goodheart-Willcox Co., Inc.
Nate wrote about GWOX on the blog in October 2012 when it was trading for $72. Has paid $32.25 in dividends since then... and is paying a $50 special dividend (!) this month. Not to mention earnings per share of $15 for the 1H of fiscal year. Shares are currently $180 bid and no offer. See our previous posts: tender offer (March 2019), tender offer results (June 2019), 2019 annual report (July 2019), and 2020 annual report (July 2020).
Pardee Resources Co.
Pardee has declared a nice special dividend of $15 vs $4 last year and $3 in 2019. We have covered PDER extensively in the Newsletter, as well as on the blog.
We had a great idea last month. Imagine if the Keweenaw Land Association copper royalty stub buys Pardee in a hostile takeover (for stock), fires the expensive board, sells the agricultural investments and some of the timber, and retains the coal and oil and gas. Maybe they buy Beaver Coal too, for good measure.
U & I Financial Corp
Community bank UNIF announced a stock repurchase program, starting December 1, 2021, under which the Company may repurchase up to $3.0 million of its outstanding common stock. See some of our Newsletter coverage of UNIF, part of our long campaign of content relating to small banks (example) since the covid crash.
Vidler Water Resources, Inc.
Press release from VWTR: "Vidler Water Resources, Inc. announced today an alternative energy company has exercised its option to purchase 53,750 Long Term Storage Credits (“LTSC”) at the Company’s recharge facility in the Harquahala Valley, Arizona for $400 per LTSC. The Company expects the sale to close in 2021 and to generate revenue of approximately $21.5 million."
We did an interview in the Newsletter with fund manager Eric Speron who is on the board of Vidler (as well as Keweenaw).
FT article: "Bolloré Group in talks to sell African ports and logistics business". Two of our guest writers talked about Bollore in recent Issues of the Newsletter.