Ben reiterated his buy on RQI today on Fox business program as his pick of the week,does this make any sense to anyone when he warned about a possible temporary dividend cut due to the ARPS problem that Cohen & Steers issued a press release about how they were actively seeking a solution to their leverage problem. I am long RQI as well as other CNS closed end funds for income purposes(retired).
The only way I can take it (I saw the same broadcast) is that C&S has reaffirmed the dividend for the next three months, and his warning was for caution prior to that affirmation. What happens after the Bear/Stearns mess and the month of June is anyone's guess, but the dividend is secure for the time being.
Here is a PDF from C&S that explains the AMPs situation; though you may have already seen it.
I saw Ben also and got interested in this company. However, cannot get any info on their debt since Yahoo does not give you access to their accounting and key statistics. Any help on how to access that. I could not find it on the company website either. Thanks for any help.
Thank you for your reply, I also am invested in ETO ,an Eaton vance closed end fund, they have announced that they are changing their leverage strategy from Auction type to debt. They are providing liquidity to their leverage providers. I would venture a guess that CNS is looking to do something very similar. Any thoughts on my thery?