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Charter Financial Corporation Message Board

  • jzningy jzningy Dec 16, 2009 8:19 AM Flag

    A Whole Lot More of Dividend Collecting Shares After The Conversion

    According to the above press release, the mutual holding company (the MHC) "currently owns approximately 85.4% of the outstanding common stock of the Company". And, the new holding company resulting from the conversion "will offer its shares of common stock in an amount representing the approximate percentage ownership currently held by the MHC".

    Since, according to the Corporate Profile at CHFN's web site, the MHC "Generally...waives its right to receive dividends from Charter Financial Corporation", it seems a lot more cash flow will be going towards paying dividends to many more dividend collecting shares. And, we are talking about a whole lot more of dividend collecting shares here, from the 14.6% not currently held by the MHC to 100% is an increase of 5.85 fold or a 585% increase! Will the new CHFN maintain it's current dividend amount? Can it? Inquiring minds want to know.

12.80-0.01(-0.08%)Oct 20 4:00 PMEDT