you are viewing a single comment's thread.
Held at .29
I am so glad I sold cys. The special dividend means nothing as it will be paid from book value.
All dividends paid impact book value, not just the special dividend.
Regardless though, the special dividend for CYS is from earnings. They mentioned in their release the following:
"The Company is making the special dividend to distribute the remaining REIT taxable income earned during 2012."
"The special dividend means nothing . . ."
It will mean plenty if you're short on X-day and are forced to pay 92 cents after taking a bath on the jump in share price that is already beginning after hours tonight.
And with the uncertainty of next quarter's dividend gone, share price should recover soon after payout.