That 100k shares look like a buy, but then thers's also a seller out there. My guess is fund managers shifting portfolio. Dividend looks safe, unless we have a real recession that knocks retailers off their feet. CWN used to pay like 30 cents 4 years ago, then it announced the reduction and price dropped from 13 to 7. The problem was they had older malls needing refurbishing and occupancy was less than 70%. Its much better now.
I checked with Schwab and they confirmed that if you purchased shares the day before the stock goes ex-dividend, you will be entitled to the dividend. So buy like crazy today, Tuesday, and you'll get a taxable dividend real soon. I know some people try to use this strategy, "buying the dividend", by buying shares before a sizable dividend and selling soon after when, perhaps, the share price seeks it's previous level. Personally, I think the math on such a round trip doesn't make it worth the trouble. Another strategy, for longer term players, is to purchase on the ex-dividend date when, at least at the open, the stock price is reduced by the amount of the dividend. This gets you in at a slightly lower price (theoretically), you keep the dividend in your pocket because you never paid for it (or you buy more shares with the same money), and you benefit from any from any price recovery anyway.
Here's Schwab's answer: "The Ex-dividend date is the date on which the share price is reduced by the amount of the scheduled dividend. The Record date is the date on which you must be a shareholder of record to receive a pending dividend. To be entitled to the dividend,
**you must have purchased your shares prior to the Ex-dividend date in order to be shareholder of record on the Record date.**
In most cases, the Record date is 2 business days after the Ex-dividend date."
Thanks for the info. I also noticed during the last couple of months CWN seems to rise during drops of the S&P (Friday excluded). I'm a little bearish toward the rest of the market and my theory is that CWN could be good place to transfer some of my portfolio. I would like to get my basis below 10, yet I want to see if we can stay above 9. Without the payment of preferred dividends the latest income statement looks promising. We will see. The ex is still 3.5 weeks away which will hopefully help me recover some losses in other holdings. See Ya! GWF