IIIIorac,theceltbese and fbrunotts, Thanks for all your communication. I really start feeling what with the mess our country is in, like taking any money off the table and throwing my card's on it. I live in New England. At first I listened to the predictors that the end of 2009 would turn the economy around. I look around in the area where I live and see house's still sitting on the market year after year. As much as I hope for a change this summer, in reality, I still see nothing being sold even though more and more houses are going up for sale. I live in the country where many people come from congested areas to get away from it all and have some peace up here. Many of those people live up here in the summer months only because winter is too horrible and isolated and making more money in the city is a reality than working and living up here! I am usualy not a quitter and as afraid as I am of having what little money I have invested in NRO keep dwindling, at the same time, I am not ready to throw my cards on the table. I just say to myself, "Well Self, you have lost this much money do you want to save what you can and hide the rest in a tin can under a floor board or play the hand out?" Feelings are not always facts and because I have the feeling of fear of more loss does not make it true. Who Knows. I, too, found it a huge blow when NRO annouced the divy cut and what the heck, why did they announce it at the time they did? Am I crazy for staying in the game? I am not sure if a Royal Flush is the highest winning hand in poker, but I am waiting to see if the right card is dealt to me!
In a dividend-oriented fund like this, since its payout usually tracks REIT/preferred REIT dividends, it would make sense that the payout would go down in an unprecedented environment such as we've had in the past year. But we're probably near a bottom in terms of REITs cutting dividends, maybe some more to go for another quarter or two. But by next year, as REITs gradually begin to restore/increase dividends as a recovery sets in, I would expect this fund to start raising its dividend.