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Littlefield Gains $141,538 from Securities Sale

AUSTIN-Littlefield Corp. has raked in a $141,538 gain in a securities sale and a total return of 34%. The gain boosts July performance into the black in comparison to a $369,992 loss recorded a year ago for the same time frame.

By Tim Green | Updated on September 04, 2001

AUSTIN-Littlefield Corp., an Austin-based operator of bingo halls and other entertainment-related businesses, reported that it made $141,358 on the sale of REIT-related preferred securities.

Littlefield bought the securities for about $610,000 in late 2000 when, it says, it spotted an anomaly in the market related to the pricing of the securities. The dividend rate of return was more than 11.5% for $70,533 and, with the sale of the securities, realized a $141,358 gain. The company said the total rate of return was 34% and will be recorded in the 2001 third quarter.

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