Tiny pink sheet company Biloxi Marsh Lands (OTCPK:BLMC) hit the big time recently with a mention in Forbes Magazine. Pink sheet companies rarely get that kind of coverage, especially in such financial media giants as Forbes.
Louisiana based Biloxi, owner of 90,000 acres of marshland in St. Bernard Parish, which it leases to natural gas companies, is up 20 percent since we purchased shares back in late June. It’s been no steady ride, though we’ll admit such companies tend to trade in a very choppy fashion, up $3.00 one day, down $2.00 the next, followed by flat prices for weeks, and also tend to trade at relatively high bid/ask spreads.
The company also recently declared a $2.00 dividend, payable October 12th. This puts the trailing 12 month yield for Biloxi at 10.8 percent based on $4.00 in dividends, and a current market price of $34.50
BMLC 1-yr chart:
Disclosure: The author has a position in this stock.