Fremont General Corp.
Last Thursday, May 29th, Fremont General
declared a special cash dividend of $.02 per share
for shareholders of record on June 6th, 2003 which will
be payable on June 30th, 2003.
This dividend is in addition to the company’s regular
quarterly dividend of $.03 per share.
The announcement of a special cash dividend is further
evidence that Fremont General is enjoying
very strong growth and cash flow. The company continues
to pay down debt and has reduced its two debentures outstanding
by about 50% with just a remaining balance of about $250
Given the strong operating results of the company,
we expect Fremont General to earn about $2.20-$2.30 per
share for 2003. At its current price of $12.00
we continue to view the stock as undervalued. Accordingly,
we have raised out target price to $16.00-$17.00 per share.
Stock Traders Press Management