Won't happen unless Hamo has absolutely no alternative. As with nsam (and every other spin I have participated in including MO spinning Kraft then PM), the first post spin dividends combined will be at least equal to the last pre spin dividend. It's a Wall Street taboo to decrease (in the aggregate) the first post spin dividend. Hamo will not break the mold or it will kill the reception to the next spinoff. Hamo may be a greedy pig but he ain't stupid.
Depending on the timing of the spin (I doubt before end of year due to slo-mo Lieberman), we will also get an early announcement (as with nsam) to erase any question of the type you asked. MO actually announced their expectations of the first post spin dividends of both KFT and PM. It prevented the kind of negative speculation we had with nsam.
BTW, a 40 cent dividend means cad per share is not a disaster.
CLDT reports tomorrow. Read the part about the JV to get a direct, strong hint on how well nrf's hotels did in 2Q.
NEW YORK, Aug. 4, 2015 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) ("NorthStar Realty") today announced that its Board of Directors has declared a cash dividend of $0.40 per share of common stock, payable with respect to the quarter ended June 30, 2015. The dividend is expected to be paid on August 21, 2015 to shareholders of record as of the close of business on August 17, 2015. NorthStar Realty's common shares will begin trading ex-dividend on August 13, 2015.
Grand slam predicting this one. My prediction:
"Common dividend announcement after close on Tue, 8/4....40 cents payable on Fri, 8/21 to shareholders of record on 8/17 which means the ex date is 8/13."
Also off an hour on CC times....they moved earlier to 9:00 am. I expect earnings press release at 8:00 am, thus giving analysts only one hour to digest a flood of numbers. Thus, they cannot be fully prepared to ask hard questions.
The companies not afraid of number crunching questions are those that release after the close with CC the next morning. Thus an analyst has plenty of time to run numbers, ratios and comparisons ( q to q, linear and y/y). All the preparation to ask embarrassing questions takes time which Hamo is now shortening.
Two hours is not enough. Watch for release time.
OOPs, off by a day (so far). They broke the Friday mold, maybe because cash shareholders dread Friday night SEC filings, with good reason.
Press release after close today announcing earnings to be released on Fri, Aug 7 before open (both). NRF CC at 10 am 8/7 followed by nsam at 11.
Common dividend announcement after close on Tue, 8/4....40 cents payable on Fri, 8/21 to shareholders of record on 8/17 which means the ex date is 8/13.
Preferred dividends will be announced this week payable on 8/17.
The days of big dividents will come again......after they finish paying for production increase cap ex. In mining, almost all the cap ex must be spent on a given project before the new production begins. When the increased cash flow comes in and little cap ex is needed, THEN the divident gets increased.
Unfortunately, imo, Grupo will take us out for a peanuts premium shortly before that happens.
Still holding all underwater flip lots. I will consider tax loss selling later in year if I need it and loss is still available, but not now because yield is so high and I expect a pop from NRE spin.
No because it is so small until 25% kicks in. I doubt 45 cents will be reached or exceeded this quarter due to the drag from the Euro properties. I hope I'm wrong on this.
Hotels really stunk in 1Q and it was not all bad weather.......read CLDT 4Q '14 earnings press release with estimate of joint venture performance. Then read the same in 1Q '15 earnings press release. It's a fact we get more info on NRF's hotels from CLDT than we get from NRF. Nevertheless, 2Q hotels should be substantially better than 1Q. In addition, Tylis said at a presentation (after he finished his comedy routine) that mfg housing was looking at a 7% increase in NOI.
However, I expect the per share boost from hotels and mfg housing will be largely or fully offset by the dilutive effect of the 1.1 billion European buy which was April. If that yields 8% on leveraged equity, it's 6.5% after nsam fee which is significantly dilutive on a per share basis.
They said they were in a hurry to complete NRE spin and the reason is the portfolio is dilutive to cad per share.
They announced the spin in Feb. They closed the big deal in early April. They should have filed the registration statement at the end of April as they had all the info that's in it. But no, stumblebum Lieberman didn't get it filed until July 2. He should be fired, not lavished with robber shares.
Just bought 5,000 @ 15.3415 including commission. Hoping for a dinner trade. If not, we are less than 3 weeks away from ex 40 cent div....thus about 31 cents of dividend is already accreted. I bought 31 cents worth of dividend and paid a little better than 15.01 for the stock. 1.60 / 15.0115 = 10.658% yield.
I believe Hamo will react to the well-deserved beating this stock has taken since they filed the proxy statements revealing obscenely excessive compensation. I can wait while collecting 10.658%.
No, but ONLY because I am loaded to the gills with both. NSAM is a tough wait because the yield is so low.
Just sitting on NRF is no problem at all with its yield. I have the ability and will to just wait it out.
Perhaps if the big shots stopped wholesale stealing of robber shares, the market would pay more for the stock.
I agree with the poster who pointed out the disproportionate drop in nrf/nsam price started with the filing of the proxy statements. And it accelerated with the disclosure of the shareholder votes (including notice in NYT and WSJ on top of online notice). If they gave back half the shares they took they would STILL be grossly overpaid for 2014.
Agree. The silence is deafening. Also, nothing from management and no management buying. At 4.55, 1.30 distribution is 28.57%.
75% of your retirement in one company?
If yes, you're too stupid to be in stocks.
Why assume a European percentage of cad when a company estimate has been out since February?
Why use IYR which does not track the RMZ (which includes nrf) when VNQ does track the index that NRF is in as of 5/29/15?
Such sloppy work trashes the credibility of the post.
Yup, it was an embarrassment. It was like Ted Bundy saying Charles Manson was a really, really bad man.
BUT, nobody in the audience had the guts to ask whether they thought their obscenely excessive compensation via robber shares was "self-interest" at the expense of cash shareholders.