Working off the books; not paying taxes, collecting food stamps, free housing money, free doctors & pills and selling pills on the street along with food stamps @ 50 cent on the dollar.
Guess it's better than paying a baby-sitter, going to work and get beat up all day by the bosses and people served.
If they get it for free....good for them to those selling the food stamps @ 50 cent on the dollar my phone # is 000-555-1234.....CALL ME!
One more distribution before setting next years distribution(5.26-.10=5.16) minus a few cents for fees & ect and my guess is next years distributions will be a little less than 9 cent... 8.74 cent per month.
"...2 SPO's in 4 motnths."
But No I was not refering to your post.
And for what it's worth; 2 SPO's in 4 monthes is the same as 2 SPO's in less than a year. Thank you for your exactness.
houtech, from Cornerstones web site...CFP 'Press Releases'
May 16, 2013-Record Date for Rights Offering
May 23, 2013-Rights Offering Commencement
June 24, 2013-Rights Offering Suspension
July 3, 2013-Rights Offering Resumption
July 29, 2013-Rights Offering Completion
The time between Suspension and Resumption was a little over a week...I think that odd.
As for the upcoming RO I'll subscribe with a request for 100% over-allotment; I'll ask for twice my allotment. But if they do like last years Suspension and resumption I might get bumped and not have time to get back in. I hope not.
If you want to look deeper into ORC look at BMNM; Bimini Capital Management Inc.
ARR & JMI might also be connected to ORC & BMNM.
With all the SPO's of ARR the management is the only ones making any real money. ARR management were doing SPO's every time the share price went north of $7.50. Great for management fees, bad for shareholders because of dilution. ARR is trading in the low $4's.
If I'm not mistaking ORC has had two SPO's in less than a year. More money for management in fees but more dilution for shareholders. ORC will get smashed down with repeated SPO's.
STOCK TIP: You can pick your stocks and you can pick your friends but don't ever pick your friends stocks.
Drinking DEWM Hemp tea...will I turn up positive for Pot drug test?
I know if I eat poppy seed buns I might turn up positive for opate drug test.
kylewdrummer you do NOT need a physical certificate(most stocks no longer offer them...stocks are now in "Book Entry" through DTC), just contact your broker and tell them you want the shares in your name from 'street name'. Tell them to transfer shares to "Book Entry"...my broker does this at NO CHARGE.
As far as buying additional shares of CLM in there DRIP....you will get a chance ONCE a year through the 'Rights Offering' (RO). Read past posts and headlines if you don't understand RO's.
S&P up about 2% last week.....CLM NAV up 2 cent last week...I'm not sure when CLM charges distribution against NAV, but I think it is on X-date...therefore w/o distribution CLM NAV would have been up over 11 cent last week, close to 2%.
Prem. near 16%.
"...cornerstone (crf)...went $40 to $5 in last six years..."
Cornerstone has a managed distribution @ 21% a year of NAV. So my math is 21% times six equals 121% PLUS $5.
No time to sling insults.
Blackrock Global; BOE....4.56%
Alpine Total Dynamic; ...2.35%
2 more Blackrock funds at....2.12% & 2%
Re: "...company 'gives' me more shares."
And the share price FALLS from ABOVE $17/shr to UNDER $15/shr. on X-date. And soon to see Sub-$14/shr.
How does those matrixes fit into your emotions...well if you liked WMC at $17+/shr...then you GOT to Love it @ $14.+/shr.
At and near time of distribution...If CASH option is Over-subscribed.
Seems like a FORCED SPO on WMC shareholders. Up to 10% of outstanding shares.
Am I spelling DILUTION correctly?
Book entry or certificate ownership has to be whole shares...ownership in a DRIP acct' can be fractional, but only whole shares can be transfered.
One share is the minimum for both book or cert'f.
Book entry is the way most companies record ownership. Been that way for well over a decade.
Ask your Broker again about transferring stock from street to your name in book entry...if it is still "at least $150." ask how much it will cost to transfer your acct' to another Broker. Some brokers will help with this expense...also are you talking with a broker at your firm or just someone that answers the phone.
When I transfer a stock from my broker(Scottrade) to my name it cost me nothing and is done in 3 days, not counting weekend & holiday...don't think you'll have time to get it in your name for this coming x-date but as CLM maket price rises and NAV falls it would be worth your efforts to make it happen...UNLESS your stocks are in a margin acct' and you're using the shares for leverage.
With so many "if" "ands" & "buts' it is hard to say how it works with you. Examples; shares held in trust, shares in margin acct's, IRA's ect.
Disclourse: I own shares of CLM in Cornerstone DRIP
Look what happen to GNI.
Hungry for yield but too lazy to do DD research.
Some pitfall stocks; Top of the list...Cornerstone CEF's... CRF, CFP, CLM all trading above 15% of NAV and payouts above 17%...with a 21% managed distribution....what does that mean.
WMC shows over 60% yield on 'stock screener'...but all us here know "The Rest of the Story".
Gold, Silver, MBS REIT's all need to be looked at with; "The trend is your friend", in mind.
Best wishes to all.