As I pointed out in a post way back on 10/30/2009:
"Last five years:
1/31/2005 last monday of the month 0 b.d. left
1/25/2006 last wednesday of the month 4 b.d. left
1/26/2007 last friday of the month 3 b.d. left
1/29/2008 last tuesday of the month 2 b.d. left
1/27/2009 last tuesday of the month 3 b.d. left
1/26/2010 last tuesday of the month 3 b.d. left"
That's my story, and I'm stickin' to it!
Is it too soon to post my prediction of April 27th for the next preferred dividend announcement?
I know the April releases have been much earlier in the month the last few years, anywhere from 4/8 to 4/17, but I'm expecting this next one to be a 'last Tuesday' instead. Just a blind guess, of course, but 3 out of 4 of my last blind guesses have been dead accurate. Maybe I'll get lucky with this one too. Who knows?
I did miss badly by a whole week back last October: Davis said 10/27, I said 10/20.
Davis was right, and I was wrong.
But I did get the July announce date and the January announce date spot on, at least.
Less than 4 weeks after ka-chinging the locked in divvys on March 31 that just went x-div, we should have another announcement for the next quarter. 4/27/2010 was my guess then, and it is still my guess now. Time will tell.
YB, that's exactly why I 'prefer' the preferred shares.
Just that simple. Simple answer, simple me, simple 18% return. Pigs get fed, hogs get slaughtered, and traders have to chase and fret, unless they have that uncanny whatever it is you have. Me, I just sit back and clip coupons, mostly. A man has to know his limitations.
Sometimes it's better to be lucky than good. It always helps if you can be both.
Meanwhile, back at the ranch...I wonder which way the common will tick tomorrow?
On January 26, 2010, RAIT's Board of Trustees declared a first quarter 2010 cash dividend of $0.484375 per share on RAIT's 7.75% Series A Cumulative Redeemable Preferred Shares (the "Series A Preferred Shares"), $0.5234375 per share on RAIT's 8.375% Series B Cumulative Redeemable Preferred Shares (the "Series B Preferred Shares") and $0.5546875 per share on RAIT's 8.875% Series C Cumulative Redeemable Preferred Shares (the "Series C Preferred Shares"). The dividends will be paid on March 31, 2010 to holders of record on March 1, 2010.
Decision on 2009 Common Dividend and 2010 Dividends
On January 26, 2010, after reviewing RAIT's estimated 2009 REIT taxable income, RAIT's Board of Trustees (the "Board") determined that the cash dividends paid on RAIT's preferred shares during 2009 fully met RAIT's REIT distribution requirements for the 2009 taxable year necessary for RAIT to maintain its REIT status. Therefore, the Board believes that it is in the Company's and shareholders' best interests not to declare a 2009 dividend on RAIT's common shares at this time. To qualify as a REIT, RAIT is required to make distributions to shareholders, first to preferred shareholders and then to common shareholders, in an amount at least equal to 90% of RAIT's annual REIT taxable income.
The Board will continue to monitor RAIT's estimated REIT taxable income and intends to declare a dividend, if any, on RAIT's common shares in at least the amount necessary to meet REIT distribution requirements for RAIT's 2010 taxable year. The Board expects to make its determination regarding any dividend on RAIT's common shares for RAIT's 2010 taxable year when a full year of REIT taxable income is determinable. The Board expects to continue to review and determine the dividends on RAIT's preferred shares on a quarterly basis.