"If NAV=PPS Then DIVIDEND"
You make it sound like the shareholder controls that. Many people at this point are saying pay some divvy each quarter and the market may respect the NAV by paying more per share.
Couldn't agree more, Art. Why does it have to be all or nothing? Why not buy 90% shares and issue 10% in dividends when the pps is so far below nav. That would be approx a nickle per share per quarter for a dividend at the current repurchase rate, or 20 cents per share per year. That would be a huge help for people needing a div and a sign that management has divs on their mind, not just their stock ATM. It would put some support under the share price and help drive it to nav faster. They are spending approx 1.7 per share annualized on stock repurchases and 0 on divs, it wouldn't matter that much to spend 1.5 on repurchase and 0.2 on divs, but it would help out those of us retired and stabilize the pps IMO.