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American Capital Agency Corp. Message Board

kansaskeith 3 posts  |  Last Activity: Dec 31, 2014 10:27 PM Member since: Jul 16, 2008
  • kansaskeith by kansaskeith Dec 31, 2014 10:27 PM Flag

    1. It probably is worth noting that FFC closed 2014 8.86% higher than it closed 2013, 19.05 vs 17.50. Over the same year, the Dow Industrials were up 7.52% and the S&P 500 up 11.13%. All that was without dividends, which in FFC's case were considerable.

    2. Since last Friday's close - three days of trading - FFC went from a premium to NAV (4.62 % by my calculation) to a discount to a discount (3.7%). NAV today was actually up from last Friday when it was announced tonight (19.78 as opposed to 19.66), when in that same three days the sales price was down from 20.57 to 19.05. "Morningstar" shows that while FFC used to trade at a premium a lot, two and three years back, it's traded at a discount for much of 2013 and 2014 - roughly half the months. So I wonder - hopefully not wishful thinking - if it just hadn't gotten ahead of itself recently. Sure a painful correction if that's what it is, however.

  • Reply to

    Dividends: It's that time of year again

    by kansaskeith Dec 4, 2014 8:48 PM
    kansaskeith kansaskeith Dec 20, 2014 6:25 PM Flag

    And they followed past practice exactly. . . .

  • Around this time of year, after the December dividend has been declared, it's common to get a question or two on here along the lines of "hey, we used to get two dividends in December, what happened?" So, this explainer as to how PHT usually works it, with an expectation -- certainly not guaranteed -- that it may be handled the same this time around.

    The fund indeed normally does declare two dividends during the month, but the second one is what it calls its "January" dividend, declared and going ex- in December, taxable as December income, but paid in January.

    However, that latter dividend to my knowledge is never declared or announced until after the December dividend not only goes "ex" but is actually paid. And the payment date this year is Dec. 18. So we'll know along about the nineteenth or the twenty-second if PHT follows past practice and comes out with another dividend announcement. Until then, it would be premature to say "woe is me" and assume it's not going to happen.

    No guarantees, of course, particularly since the "kitty" out of which they make the payouts is shrinking. My personal guess is that past practice will be honored and we will get one more, but I do think sometime next year we might (finally) see the monthly amount shrink a little. Time will tell.

AGNC
21.55+0.03(+0.14%)Jan 30 4:00 PMEST

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