Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Michael Amari - Americo Inc.
Michael Amari - Americo Inc.
We don’t have any more real estate, right. We are out of that. We sold everything.
Alan Miller
That’s correct. We do own property in Belgium, but for the most part, here in the United States, we are done with real estate.
Michael Amari - Americo Inc.
In terms of the cash that you have, do have any exposure? Do you have any subprime exposure?
Alan Miller
No, not subprime, not at all.
Michael Amari - Americo Inc.
What are you making on the cash, a couple of percentage or something?
Alan Miller
It’s very modestly invested, 5% to 5.5% thereabouts without being aggressive.
Michael Amari - Americo Inc.
I guess that is that part of the reason why you have to remove the dividend, which we hope you would address soon because your investors really need the dividend and we are all strapped for cash at this time.
Martin B. Bloch
Michael, you are the one who kept on talking why do you pay a dividend. Why don’t you deploy the money more successfully and that’s what we are doing. We deployed for growth and acquisitions.
Michael Amari - Americo Inc.
You are doing absolutely great. You are turning from value to a growth company. It’s a time where most of the investors would like to see some sort of a dividend.
Martin B. Bloch
I understand that. Michael, visualize that I personally am one of the large benefactors of the dividend, and I voted with the Board that this was the right thing to do at this time.
Michael Amari - Americo Inc.
I understand. Well, I hope you will consider buyback if the stock tanks any further.
Martin B. Bloch
We’re looking at it right now.
Operator
And we’ll take our next question from Robert Smith - Center for Performance Investing.
Robert Smith - Center for Performance Investing
Let me first also share with you my surprise about the dividend. I feel this is ill advised, and I hope you will reconsider it. It’s what differentiated you. You distinguish yourself by having a strong balance sheet and a dividend, and eliminating the dividend I think is a poor choice. I really feel you should give very serious consideration to reversing this and reconsider it. I am speaking from the point of view of an investment professional.
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