C&S just announced the next 3 months dividends for many of their closed end funds. If dividend increases occur it is generally with the April Div. At this price and deducting the special dividend the yield on this stock is 13%. As of Sept 30 the fund was 54% in preferred stocks which have taken a hit recently. The other 46% is in REITs which receive rent increases and capital appreciation. I am looking for a .03 pr year dividend increase in April, a recovery of the preferreds similiar to what occurred last August and a general rise in real estate values(commercial) over the next few years. This should be a fairly safe way to make outsized returns for the forseeable future. Not a rocket but slow and steady especially if you can reinvest the specials each year end.
That is true and perhaps it would be an excellent chance to pick up some more shares at say $2.00 a share less if $2.00 a share is the special. If our beloved economy turns around RNP may well go back to the $30.00 level again! Plus with .20 cents per share per month its a nice income even though the tax man says I want some of that too!