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Yesterday, Avoca Inc. (OTCPK:AVOA) declared a $720 dividend payable 1/31/07 to shareholders of record 1/12/07. The stock will "trade" (quotes around trade because the stock rarely does) ex dividend 1/10/07.

We were slightly disappointed with the amount, despite the indicated yield of 11.43% based on the most recent bid price of $6,300. As you may recall, our last piece on Avoca suggested a dividend of between $800 and $1000. While we were out of range on our estimate, that brings total distributions over the two year period we've owned Avoca to $1,470 per share. (We paid around $28.25 share prior to the 1 for 100 reverse split/delisting.)

No complaints here.

Disclosure: the author has a position in this stock.

Source: Avoca Declares a 'Disappointing' $720 Dividend for 2006