The two special dividends scheduled between now and the end of 2014 raise the actual dividend yield to about 12.5%. FSIC is a great buy right now. I love the monthly dividends, and the two special dividends of 10 cents each, for a total of 20 cents, make FSIC all the more attractive. I look for them to either raise the monthly dividend next year or continue giving us special dividends.
Ouch...I just noticed the N-2/A filed today for up to $1.5billion worth of shares for sale. That is why we are being crushed. I'm currently re-evaluating my position here; I might sell a bunch and wait until after the ex-date when the share price plunges down. GLTAL.
FSIC just went public, i dont believe they will have a secondary for a long time. plus that $1.5 billion (as massive as it is) includes preferred and common shares and bonds. plus, the stock isnt getting slammed today. it's still trading higher than it was 1 trading day ago... when it hit $10.18. also, during the cc they said insider buying should take place very soon after the dutch auction plays out. so.... we'll see. this thing is probably pretty range bound, but insider buying may give it a nice ramp up.