The numbers that I put forth are correct. Currently, .40 of the .62 dividend is paid from the "warchest". There are about 380,000,000 shares outstanding = about $150,000,000. There is about 1.5 billion left from the offering that was made at $20. 10 more quarters and all the money is gone. Didn't you know that the dividend is subtracted from the share price? If there is no price appreciation through earnings or PE expansion then the stock price will continue to dwindle. I know you don't like it but those are the facts. The dividend is your own money,but you pay tax on it when they give it back to you. In the end you will recoup the tax you paid when you sell your stock and take a loss on pbct. Do you know that almost $4 per share of pbct is just the cash that is on hand from the offering? Without the cash pbct is worth about nine bucks a share.