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The Royal Bank of Scotland Group plc Message Board

  • lefronczak lefronczak Mar 31, 2009 4:27 PM Flag

    mschen I own F.S prefds you know

    Anthing about when they pay div if you own.

    I own all the RBS Preferreds just about

    Thanks and good luck, cheers

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    • The F-S pref has been doing very well since the dividend suspension. Ford looks to have long term survivability and this stock is a very nice one to hold in a tax protected fund like a 401k. Otherwise the tax liability is not worth it since you dont actually receive one but pay taxes on it. Sold half of my holdings at $11 to lock in the profits. If this thing survives they will pay back all the interest due plus it will continue to move back up. $50 par stock, so it has a way to go.

      Good Luck holding this one

    • Owning Ford seems very risky.. Here's a preferred moving today and still have a $10 upside. AHL-PA

      Aspen Insurance Holdings Announces Agreement to Sell Ordinary Shares to Fund Repurchase of up to 2,672,500 of Its Perpetual Non-Cumulative Preference Shares

      • 1 Reply to robbhyland
      • I am long RBS prfds, and always appreciate your insights.

        I have a question re the ahl-pa prfds you mention. While the release would imply they are redeeming at par, the share action indicates otherwise.

        In Aspen's filing, do you know if it states a redemption price? Also, do you know how many total shares of ahl-pa are outstanding and how they go about allocating the buyback?

        I'm not asking you to do the research, just curious if this is info you have handy.

        I guess I just never thought about buybacks below par before (except in the case of bankruptcies), but it seems to be becoming a common practice these days. While companies can't buy back their preferreds in the open market(below par), I guess they are free to offer pennies on the dollar to holders of preferreds through these filed offerings.

        Given ahl-pa's action, I am suspecting that the market thinks that's what is happening here -- or the buyback represents such a small percentage of shares outstanding that it's not moving the price (other than a brief spike) -- or lastly that it is thinly traded and few people have picked up on this.

        Thanks for your insights.

    • Actually, I was wrong, the div on the stock has been suspended, but is cumulative. This is the first quarter it will be suspended and it is a long term play now. If F survives, which I believe they will, these will be senior over the B class shares and common. They cannot pay div on this stock while they work out a new agreement with bondholders.

      Ford can suspend the interest payments up to 20 quarters or 5 years. The previous interest will be paid in full once at the time the interest is reinstated. Its a long term gamble that is more of a tax nightmare. Again, I only got in on a small stake but do believe the payoff down the road, maybe 5 years, will be big.


    • They pay the next dividend for F-PS on April 15th of .81 for each share. I bought this stock for $7.41 and been watching it slowly climb. The dividend is a nice payout and much thanks for pointing me toward this stock. I do not own much, but it appears the dividend is safe for now and going forward.

      Congrats on the big payoff today. It has been a very nice month coming off the lows around March 6th.

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