NYB continues to expand/grow internally by external acquisition of sub-par banks and valuable assets...the primary revenue generators for the bank look to keep the dividend at it's current $1.00 level for the foreseeable future...even during the worst of the crisis over the last 4-5 years there was never any cuts...and we have improved quite a bit on our internals since then...so dividend 'cut-mongers' keep mongering..as we the loyal and longterm shareholders enjoy our buck a year...not bad in this environment and then when we actually begin to climb out of this very low interest rate environment(s) strong share growth may ensue for the common...and dividend increases too...
From now till the next dividend declaration you will be hearing talk about a dividend cut. If it did happen,do not think it will, would not be the end of the world. What is important is that they manage well what they have and acquire more assets at good prices. Banks usually are brought out at twice book,long term that is what I am looking for. In the mean time collect what you can and buy on market set backs. GLTA
I'm not worried about any inevitable dividend cut by NYB. After all, most of its assets are attached to its Roslyn Bank division which has large exposure to Queens, NY and Long Island homeowners ,many who are underwater with their Roslyn mortgages due to a 40% ++ real estate meltdown in Queens/Long Island since the housing bubble burst. Astoria Federal (AF)who also has high exposure to the Queens/Long Island housing market just announced they were slashing their cash dividend and AF stock held its own following the dividend cut.
Some good points. I say just sit back, hold NYB stock, collect the dividends and let the chips fall where they may. This isn't a stock to own for a short period. Whatever happended to the days when people bought stock to hold for decades?