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Cohen & Steers Reit and Preferr Message Board

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  • ringhofer2000 ringhofer2000 Aug 14, 2012 6:20 PM Flag

    Dividend Increase

    Highly doubtful since about half of RNP's holdings are in reit preferreds (which are stable and secure and pay out nice dividends, these dividends cannot go up and the price of good reit preferreds has about maxed out above their $25 call price). Reit common companies have not significantly, if at all,increased their dividends. Thus, I can't see how RNP could increase dividends without making most of it return of capital, which is the big cloud that Cohen & Steers' closed end funds fell under, particularly when they cut their dividends to more realistic levels. Also, RNP is selling at about the smallest discount to assets of any Cohen & Steers closed end fund. In short, I cannot see a catalyst or justification for increasing RNP's dividends. As a shareholder I'd certainly like bigger dividend checks, but strongly doubt any for the foreseeable future.

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