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AllianzGI Convertible & Income Message Board

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  • excapnal excapnal Dec 26, 2008 11:45 AM Flag


    The number of shares outstanding times the NAV must equal the debt outstanding; or debt outstanding divided by number of shares equals required NAV. $357 Million divided by 71.5M shares equals $4.99. Since any dividend reduces the NAV that must be allowed for as well. So to pay one divided of $0.125 requires an NAV of $4.99 + $0.125 = $5.12. So, as soon as they finish with ARPS redemptions next week, we are there for one divy and they could announce another, perhaps.

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