How can you make a statement about insider information being negative if you say that board members have information that is not released to the public?
Just based on price. Board members can insider trade. There are no rules to stop them from doing so. If board members had reason to believe that AM was going to perform well and start paying dividends in the foreseeable future, they would buy more shares, and that would raise the price. Clearly, that hasn't been happening. Therefore, any insider information that exists is, at the very least, not sufficient to warrant a stock price higher than what it currently is.