Yes, it's almost insane anyone worries about a penny cut when you are getting 11.33% in yield. One of my favorite REITs over the years has been SNH. That sucker has paid and paid me dividends for a very long time and I'm very comfortable with it at 6.2% today because I bought far cheaper and have really made around 9.22% average for all this time. All those dividends have been reinvested in stuff making even more and more. For TWO to pay 9% it would have to go UP in price! This is just a stock you buy and hold, buy more on dips, hold some more and buy and ten years later you'll have a stockpile of stocks you bought with the dividends just like I have because of years of doing the same with SNH. Mortgage quality is improving all across the country simply because the economy is not on its hind end anymore. Like some of the guys on this thread have suggested, TWO should just focus on improving quality some and paying secure dividends even if those dividends have to come down a few pennies. If mortgage quality continues to improve you can have a long window of holding this and making some money on more secure dividends and using the money to make even more. This is what is called "investing." I'll leave the gambling to the crazies in Vegas. If someone is playing this stock for huge price gains they need to go buy some chips in Vegas and leave the investing to me. LOL.
Cost of delay is $146 million per year based on the $400K per day penalties they must pay VHC for delaying. In terms of AAPL's 10.28% profit on market cap, that comes to $1.4 billion of AAPL's market cap. Rather than delay, they'd be better off settling or investing in VHC. It really is that simple. It also sets a price on VHC somewhere north of $1.4 billion in terms of AAPL market cap. North because others are infringing or licensing. That's just what it is worth to AAPL alone. CSCO is irrelevent.