PIC Club Poker Posts 9.1 Percent Dividend for Users
The online poker payment platform, PIC Club, has posted a 9.1 percent dividend for users, according to CEO Chuck Kidd.
PIC Club operates on a common shares account model whereby members earn money similar to that of shareholders in publicly traded companies.
From Chuck Kidd:
"Another great year has passed for PICClub, and although there were a few bumps in the road, I am pleased to announce that the Common Shares Account(CSA) vested funds has posted a 9.1% dividend. This means that, per our agreement, all funds in the CSA account have received the guaranteed 3.5% payout and those funds vested in the CSA for six months or longer have earned an additional 5.6% dividend for a total of 9.1%.
"As an example: If you have a total balance of $200.00 in your CSA as of November 30th, 2009 you would receive 3.5% ($7.00) on this balance. If $100 of this balance was in your CSA account as of June 30th, it will have met the requirement of being vested in the CSA for six months or longer, and will receive an additional 5.6% dividend of $5.60. This means your $200.00 in the CSA has now earned $12.60 for a total of a 6.3% annual return."
In recent weeks, PIC Club has been embroiled in a heated feud with the online poker network Merge over monies they claim are still owed to them. The two sides have or are in the midst of settling their dispute.
Christopher Costigan, Gambling911.com Publisher
