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AllianzGI NFJ Dividend, Interes Message Board

  • keltus1952 keltus1952 May 17, 2009 10:12 AM Flag

    Next distribution??

    Last 1/4 was .15, down from .41 the previous 1/4. I think they could easily adjust that upward to the .25 area.

    Things have improved quite a bit and the NAV is doing pretty well although the discount to NAV is still in the 22-23% area.

    Would be a good time to reward those (me included) that have stuck with this CEF. A raise of the payout might also bring in some new investors and help close that discount gap a little.

    They should be declaring in mid June.


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    • Since inception this thing distributed $2.10 per share which was too high and resulted in reducing NAV. Early this year the distribution was reduced to $0.60 which is much more appropriate and sustainable from dividends and interest - no more selling down in order to pay distribution.

      When they lowered the distribution the fund got killed by nervous retail investors and the discount to NAV has yet to recover.

      The fund is relatively low cost, invests in good quality dividend paying stocks and convertibles, and has no debt. They also sell out-of-the-money calls, which can be a drag in a rapidly rising market but surprisingly has not hurt their NAV performance vs. S&P500 the last few months. In a flatter market the call selling should provide a little boost.

      Bottom line, there is no logical reason for the 20% discount and eventually it will correct to below 10%.

    • i keep adding with huge discount. hopefully be rewarded with increased divy announcement

    • Are they getting more than 15 cents of distributable income per quarter? If not then there would be no more to distribute unless they give you back your own money (return of capital).

12.52+0.13(+1.05%)May 25 4:02 PMEDT