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AllianzGI Convertible & Income Message Board

  • malibu9255 malibu9255 Jan 28, 2013 4:32 PM Flag

    NVC reports quarterly earnings

    NCV had a pretty good quarter reporting $.26 in earnings and $.09 in capital gains. This more than pays for the $.09 monthly dividend. For the last 9 months the earnings were $.79.

    Sentiment: Hold

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    • jdfunnell Jan 29, 2013 12:15 AM Flag

      Actually, the green eyeshade part of me wanted to see 27 cents, not 26 on the NII line, since that to me is the be-all-and-end-all that the dividend will remain extant.

      What's a penny between friends? Over time it adds up.

      As I mentioned, maybe two years ago...........there's an 85% chance this dividend remains as-is. But that's not 100. PTY is 100%.................Dave

      P.S. Yes, I still own this with no intent to sell. Just that this bears more watching, if only a bit more. My incremental $$$ will go to PTY, not NCV.

      • 4 Replies to jdfunnell
      • Earnings were good. Obviously .27 on NII line would be better than .26, however, this is a convertible fund therefore capital gains cannot be ignored as part of the return. In an up market the capital gains portion will bring back additional upside return to the shareholder. If this were a pure bond fund I would be more concerned about NII, but it's not, so we can't look at only NII.

      • Ah Dave they just don’t stop do they.......Good stuff to ya my friend.


      • JD are you for real? PTY pays 7.13% right now, NCV pays 11.63%. I can show you a MUNI that pays about the same as PTY, (MHI @ 7.10%) and it's, Wait for it......
        TAX FREE
        So go ahead put your spare change into PTY and give away 4.5% in dividends all because you're scared they may drop their div a fraction of a percent. Oh and BTW, NCV has a premium of 4.97% compared to PTY @ 29.00%. Not to mention PTY is 21.85 a share right now.
        If that aint enough NCV hasn't dropped the div in over 2 years

      • Dave;
        Agreed that the PTY dividend is more reliable. But I have NCV for the higher dividend and am willing to assume, and monitor, the increased risk. That is why I invest in several issues. Like putting the bullseye (my diversification ideal) in the middle of a shotgun pattern, of investments.

        Also, I just use NVC for income and do not re-invest the dividend.

        Sentiment: Hold

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