Somebody mentioned that the price of this stock is lower now than 2009.There are people that are using the dividend to over look this fact.Look Mngt&Board are bad people,they are rewarding themselves to the extreme I am sure but what about the shareholder????
I stand by my "opinion" that these people are bad otherwise they should be doing a better job at rewarding the shareholders as well as the employees and themselves ,in that order.
To hold on to this stock is like banging your head against a wall and not expecting to get a headache.
Yes you might make a few dollars at this level,but is it worth the wait??
With current behavior ,in this institution,investors could do better elsewhere.
Look, the 5% yield would be fine if the share price was gradually increasing over time(not a priority for Board or Mngt).
The re-issue price of approx. $20.00/share --in 2007--is now $12.00 and change you do the math.
I am not sure what you mean by "no credit or interest rate risk" but if your reference is to REIT's than yes I believe you would have had better returns with the mortgage backed securities firms.
Look I am not advocating making a 1million over night, what I am saying this bank located in a superior market was once (before the current tribes people took over--sorry can't help myself--}
a very successful franchise and the pride of many people that invested in it's original IPO.
The investors twice supported this bank by buying up millions of dollars worth of shares,making it possible for the bank to survive in this climate,so what is it that the bank has done for the shareholders?? not very much,the 5% dividend is the equivalent of picking up the crumbs off the floor,when taking in consideration declining stock price.
The shareholders are part owners as such they should expect a reasonable return .If you feel
good about your investment than be happy,from my way of looking at this the shareholders is
being treated as second rate.
It;s time to move on