How much for a postage stamp? How about a check? Now, add those to the costs involved with processing and you can see why Southridge Enterprises Inc. (SRGE) announced cash dividend is only for $0.00003. It’s like a repeat from September when we first covered the renewable energy company in the ethanol business turned Gold and Silver mining exploration company. As it leads the OTC in total share volume going into lunch, it’s a wonder how many shares of SRGE stock does one need to have to make money off the dividend?
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SRGE Stock Chart
Market Cap: 10.88M
Last: 0.0129, up 0.0049 (61.25%)
Dollar Volume: $768,087
Average Trade Size: 109,881
Issued and Outstanding: 799,900,868
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Based on the current trading activity, if you owned the average trade size, 109,881 shares, your dividend received come November 22, the pay date they declared as per their PR, will be $3.2964. Michael Davies, CEO and President of Southridge Enterprises said it best when he stated “”While it is unusual for a Company like Southridge to declare a cash dividend at this stage of development, we felt that it was the right thing to do for our shareholders given the Company’s current cash position and outlook.”
Unusual? Try unheard of. But with $1,966,374 in cash as of May 31, 2012 (the last financial report filed), it would behoove them to pull a dog and pony show of this kind since the shares sold far outweigh the cost of the dividend, even at 45¢ each for postage.
About SRGE Stock
Southridge Enterprises Inc. is an exploration stage company engaged in the acquisition and exploration of mineral properties. The plan of operations is to initially conduct mineral exploration activities on the Cinco Minas and Gran Cabrera properties in order to confirm, expand and commercially extract existing and new mineral deposits of silver and gold.
Click here to view the financial report of SRGE.
Bottom Line: SRGE is, once again, crushing all other penny stocks in volume. The percentage gains on SRGE stock aren’t too shabby either. With intraday gains of over 140%, this is gonna be the beginning of many more sessions whereby volume continues to land Southridge in the top 10 penny stocks list. We didn’t like what we saw in September and today hasn’t really changed our views much until we see some updated financials.
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