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Neuberger Berman Real Estate Se Message Board

  • mizesaw mizesaw Nov 20, 2008 3:26 AM Flag

    What to expect soon

    NDD shows us what to expect to happen to NRO soon:

    On Monday, November 17, 2008, after the market close, the NB Dividend Advantage Fd - (AMEX: NDD) issued a press release outlining a number of actions.

    NEUBERGER BERMAN DIVIDEND ADVANTAGE FUND ANNOUNCED:

    * REDEMPTION OF ALL OF ITS AUCTION MARKET PREFERRED SHARES,
    * A REDUCTION IN LEVERAGE; AND,
    * A REDUCTION in its QUARTERLY DISTRIBUTION (to $0.11 from $0.30 per share)

    *********************************************************

    That means that instead of returning 120% at current price of $1.50, NRO will only be returning say 40% if it mirrors the cuts in NDD.

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NRO
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