GRR chart, page-31

It is currently sitting at 29 cents (has an aversion of getting to 30 cents it would appear).
I think the reason is that the dividend has been held back at a value of 20% - return is good but if there is a lot of room for movement and that would make the SP that much higher if the dividend was doubled for instance.

I won't complain about the way management is preserving and increasing cash reserves but the SP will inevitably suffer as a result. Investors look for a few things but return is one of them - and probably the main one if dividends are being chased.

There is clearly upward pressure on the SP - GRR is doing well and should be seen as a good investment. I think if the next two quarters deliver the promised results then we might see that the BOD has to offer an increased dividend and maybe we sill see the SP up to 50-60 cents as a result.

Exciting times.