I'm not quite as optimistic. I'm hoping that after the dust settles I'll be 'whole" from where I was prior to the split, and that from there NEWTEK takes off. I don't expect the dividend/split to b a windfall.
They are doing this secondary in a manner that does not inspire confidence. Why not do the special dividend first and get it out of the way, and then do the secondary. Doing it this way, leaves an impression that they are doing the secondary in order to fund the special.
Actually NEWT did specifically say the 1.82 dividend would be maintained after the special dividend. In his 2Q Results briefing they said
"We have formally announced in the release last night that our annual cash dividend of $1.82, which is being paid quarterly, will be maintained. I want to repeat this particular point because I get asked this quite a bit. The special dividend that we’re about to talk about will not affect the quarterly cash dividend. The special dividend is a one-time dividend that will be paid to shareholders of record date when it is formally declared and announced by the Board, and that is to distribute retained earnings that the Company achieved as a C Corp."
The $3.29 will have a positive impact on dividends received however. I guess no one knows the percentage of stocks vs cash but NEWT is NOT reducing their dividend rate on all the extra stock you are going to get. So you will have more income after the dividend than before.