On October 28, TAL announced a quarterly dividend of $0.45 per share, a 37.5% reduction from the prior quarter. The dividend is payable on December 23, 2015 to shareholders of record as of December 2, 2015.
I have 100 shares of TAL International Group’s and the forward yield on cost of my position has become 4.2% from 6.7%. Its value has decreased by about 60% since my investment. With this dividend cut, I can make up my mind to drop the entire position of TAL from my portfolio. This is a legacy of the era when I was a high yield investor.
Disclosure: Long TAL