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Old Republic International Corporation Message Board

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  • Debaser8 Debaser8 Jun 26, 2012 12:32 PM Flag

    Webcast

    Yeah, I'm listening to it. Their decision not to seek an amendment on the bonds or prepare for the contingency of them being put is very frustrating.

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    • Sure wouldn't sell down here, but hard to know whether to buy.

      It sounds like the risk of the liabilities of the RFIG business coming back to ORI corporate are pretty much 0 and the yield is very good, but the GAAP earnings will likely look poor for a few years which means when people screen for stocks, they are likely just to dismiss ORI without understanding their story. Could make it hard for the stock to move upwards.

      • 1 Reply to bbarberayr
      • you're getting almost a 9% yield here - and they have a very strong history of raising dividend - so you are very likely to get a 12% return on dividend and dividend growth alone - I'll take that any day.

        As far as the bond contingency issue, why should they renegotiate when its not an issue and most likely never will be an issue? There's a cost to any bond amendment. And if the bonds were called, it would be very easy for them to refinance through cash on hand and new financing.

 
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