$13 is just an estimate, the actual terms are 50 cents less than market on the pricing date or NAV on the pricing date,whichever is lower..
a real consideration is that if u don't own many shares, the benefits of the 50 cent discount may be less than what your broker charges u to exercise the rights, brokers have been jacking up fees left and right,one of mine (and the one that happens to have had the RVT shares on 1/28) used to do this for free and now charges $30..
Are you talking about RVT? They haven't made their dividend announcement yet. The last declaration was 22-Nov-02 with the ex-date at 4-Dec-02 and payable at 23-Dec-02.
If past history is any guide, a new declaration is due the last week of February, probably this coming Monday.
Also, watch for a drop in the distribution?
The NAV for last year was down 15.61% according to their web site. Since the div is based on the rolling average of the past four quarters, except for the fourth quater, one might expect a drop in the div to 1.27 from the 1.51 value for 2002. It remains to be seen of course.
My broker is charging $30 as well. They normally charge me 9.99 on all orders. Says I have until March 6 to reply to them one way or the other because the RO expires March 10. That .50 cent discount would only save me ~$22 after paying the broker's $30 comm...plus RVT could go lower after/than RO price w/discount.