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Getting Beat Up on $UWMC
I suppose this is what I get for trying to catch a falling knife SPAC that pays a dividend!
The only thing that keeps me holding is that the dividend appears to be safe. The CEO has touched on the dividend on multiple occasions:
- Q42020 Earnings Call - "We expect this to be a regular quarterly dividend."
- Q12021 Earnings Call - "As you saw in our release, the Board approved our quarterly dividend of $0.10 to consistently deliver money back to our shareholders."
- Q22021 Earnings Call - "...I don't, as Chairman of the Board at this point, I don't see a reason that we would not pay the dividend. The dividend is a way to repay our shareholders, and I plan on that going forward...Then on the return of capital, the dividend we're very proud of, and we're going to plan on continuing that as we as I mentioned earlier because I think it's the right way to reward out loyal shareholders and we're going to continue. And based on how low the stock price is right now, it's an amazing yield for anyone who's buying the stock."
- Q32021 Earnings Call - CFO this time, "As noted in the press release, the Board again authorized a regular dividend to be paid to our public shareholders consistent with our track record over our entire history as a publicly traded company. We are comfortable with the amount and timing and believe it is appropriate to reward our stockholders.
- Q42021 Earnings Call - "..we'll continue to grow and succeed and excel in our business platform and the numbers will continue to come through very strong. Besides, in the earnings also and the dividend, that is very strong as well."
All of these comments and the company's fair performance keep me holding. As long as the dividend holds, I'll hold. But boy oh boy does this company have some stuff to work out.
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