Didn't pull it from anywhere. When I calculate future returns (the only ones I care about), I don't count on one time special dividends or any one future pps. I enter numerous calculations for ERR/IRR based on various scenarios long before they are likely to occur. If and when the Fed decides on future quantitative easing, one of the IRR scenarios will be a close match for rates and spreads. From slide rule to TI calculator to spreadsheet to online application, the theory stays the same but the amount of time required has been greatly reduced.
Do I have scenarios already printed and filed that show a pps of $14 and dividend of 7% - yes I do. It only cost some printer ink and one piece of paper. I also have IRR sheets with pps and yield on the more optimistic end if the spectrum.
It was not about the earnings?? Since when do earnings not matter?? If it were only about the dividend then this stock should be sky high. And what ride are you referring to? The big 12 cent increase into nosebleed territory?
Pretty sure he meant the important part is that earnings were high enough to cover the dividend. Anything above that is gravy, but not near as important as signaling the dividend is secure. Most longs are here for the dividend, not because this is a growth play.
And I'm fairly certain he's also referring to the traditional run into the ex-dividend date. Not a post earnings bump. AGNC doesn't usually hit its high until it gets close to ex-div.