WTMK .12 cent stock giving .07 dividend.

[stockviper]

I just saw this on the SEC website. May be worth throwing a little money at. I did.

---------------------------

Whitemark Homes Declares Cash Dividend on Common Stock

Oviedo, Florida - December 19, 2006 - Whitemark Homes, Inc. (OTCBB: WTMK) announced today that its Board of Directors has declared a cash dividend of $0.07 per share on its Common Stock. The dividend is payable on January 15, 2007 to shareholders of record at the close of business on January 8, 2007.

About Whitemark Homes, Inc.

Whitemark Homes, Inc. (OTCBB: WTMK), headquartered in Oviedo, Florida is a homebuilder in Central Florida.

Certain statements in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

[janos]

sounds pretty good, you were at x.12 now its at x.0.15 and its going up.

To bad I cannot get any, my broker, sharebuilder does not allow purchase of most penny stocks.

[TonyM]

Originally Posted by stockviper

I just saw this on the SEC website. May be worth throwing a little money at. I did.

---------------------------

Whitemark Homes Declares Cash Dividend on Common Stock

Oviedo, Florida - December 19, 2006 - Whitemark Homes, Inc. (OTCBB: WTMK) announced today that its Board of Directors has declared a cash dividend of $0.07 per share on its Common Stock. The dividend is payable on January 15, 2007 to shareholders of record at the close of business on January 8, 2007.

About Whitemark Homes, Inc.

Whitemark Homes, Inc. (OTCBB: WTMK), headquartered in Oviedo, Florida is a homebuilder in Central Florida.

Certain statements in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

I would expect the pps to drop .07 on 1/8

[stockviper]

Originally Posted by TonyM

I would expect the pps to drop .07 on 1/8

Maybe that anticipation has already been built into the share price? Now it's at .15 with double the normal daily volume traded so far today.

[TonyM]

Originally Posted by stockviper

Maybe that anticipation has already been built into the share price? Now it's at .15 with double the normal daily volume traded so far today.

Book value is .118 ps and they are going to give away .07 of that with a levered cash flow of -$556k on a float of 8.99 million. Looks like a way to temporarily prop the price up with the dividend used as a carrot on a stick until every one bails on the 8th. Just my jaded opinion of penny stocks operating in the red with yoy growth of -94%

[White Rabbit]

51% of the shares are held by one of the owners Larry and Patricia White. They own 12,311,977 shares. Since the shares are only selling for $0.16, a nice way to get money out of the company is to declare a dividend of .07 per share, and they pay a dividend tax rate.

The White's get $861,838.39 and still own their shares. "Very Nice Deal Indeed for them". That is my take on this dividend, and I am suprised that the SEC will allow that much of a dividend on this stock.

They also have a lot of stock options left to exercise.

[stockviper]

Originally Posted by TonyM

Book value is .118 ps and they are going to give away .07 of that with a levered cash flow of -$556k on a float of 8.99 million. Looks like a way to temporarily prop the price up with the dividend used as a carrot on a stick until every one bails on the 8th. Just my jaded opinion of penny stocks operating in the red with yoy growth of -94%

Yep the float is 8-9 million out of a total of 21-22 million outstanding.

I only found the form 4 on the SEC website showing 7 million being owned internally. Still leaves 5-7 million somewhere else.

This may be a curious one to watch when the divi drops the PPS .07. May look like a selloff.

[ub3rn00ber]

i got in at .12 if it goes to .2 ima get out, or when i get the dividend ill bail. I think ill short it closer to the 15th

[bahroor]

Originally Posted by janos

To bad I cannot get any, my broker, sharebuilder does not allow purchase of most penny stocks.

sharebuilder wont let you buy many stocks discussed here, including many under 5$ or low volume or some IPOs or BB and OTC
not to mention the $15 fee per limit (or market) order

Originally Posted by White Rabbit

and I am surprised that the SEC will allow that much of a dividend on this stock.

I was thinking the same thing... didn't think the SEC would allow this.. interesting

Originally Posted by ub3rn00ber

i got in at .12 if it goes to .2 ima get out, or when i get the dividend ill bail. I think ill short it closer to the 15th

Good plan
Have you shorted many penny stocks that trade an average of 15K shares/day?

[stockviper]

Originally Posted by ub3rn00ber

i got in at .12 if it goes to .2 ima get out, or when i get the dividend ill bail. I think ill short it closer to the 15th

I tend to agree with you! If nothing else maybe take our original money out and let the rest ride. The company has been in business for a while so they seem stable (not a fly by night).