How long have you been following TFSL Murph? Do you know why they stopped the Dividend in 2010? Also their P/B seems a little high for what the banks are going through at 1.82, but maybe their Dividend is holding it up.
I didn’t get start getting into TFSL until 2014 or so. However, the resident expert on TFSL is none other than Jim Royal; I’ll bet he knows.
You may want to review past TFSL posts from Jim to get some great perspective, although many super Jim Royal posts on TFSL were lost in the switch to the new board format.
BL Home Fool
(long TFSL, and who notes that it is a “special situation” that is often overlooked due to its organizational quirks…which Jim can speak to)
I was surprised to read that MHC owned 80 percent of the stock and was waiving dividends. Not really sure how to think about this. Depending on if they hold or sell it seems like you have to have a lot of faith in them.
Ok I am starting to understand this a little better. I calculate that they have about 41 million shares outstanding and that their BVPS is at $44.74 so their Price to book is at .25. It looks like they have bought back about 1/2 the shares outstanding. Very interesting.