Friday, August 10, 2007
Sebastian River Holding's Inc. announces currency dividend possibly worth $1 per share
Finance
(PortAl Iraq) - Sebastian River Holding's Inc., announced that the board of directors have approved an Iraqi dinar dividend for all shareholders of record on Sept. 14 with a payout date of Sept. 28. Shareholders of record on the dividend record date will receive one Iraqi dinar for every one share of Sebastian River Holding's Inc. owned, payable in lots of 1,000 shares equal to a 1,000 Iraqi dinar currency note.
"We are getting the shareholders involved," Sebastian River Holding's President and CEO Daniel Duffy said. "Now all of our shareholders can own a piece of history, by receiving actual Iraq money in the form of the dinar."
The Company feels that the Iraq government must re-value their currency to give all Iraq citizens purchasing power and a new way of living. The company currently holds 135,000,000 dinar and every $1 upward movement in the price of the Iraqi dinar gives the company a profit of $134,900,000 or roughly an EPS of $2.73 and would make this dividend worth $1 per share cash dividend.
The Company would like to inform all shareholders that Sebastian River Holding's Inc. will be purchasing new Iraqi dinar currency for this dividend. This dividend will not affect the Company's holdings of 135,000,000 Iraqi dinars.
"We are getting the shareholders involved," Sebastian River Holding's President and CEO Daniel Duffy said. "Now all of our shareholders can own a piece of history, by receiving actual Iraq money in the form of the dinar."
The Company feels that the Iraq government must re-value their currency to give all Iraq citizens purchasing power and a new way of living. The company currently holds 135,000,000 dinar and every $1 upward movement in the price of the Iraqi dinar gives the company a profit of $134,900,000 or roughly an EPS of $2.73 and would make this dividend worth $1 per share cash dividend.
The Company would like to inform all shareholders that Sebastian River Holding's Inc. will be purchasing new Iraqi dinar currency for this dividend. This dividend will not affect the Company's holdings of 135,000,000 Iraqi dinars.
Labels: Daniel Duffy, Iraqi dinars, Sebastian River Holding's Inc.
