I think you are too pessimistic. The nii with fee waiver and other income etc minus the .05 from energy takes the dividend down to .90 with a more optimistic perspective. With a .90 div and an NAVof 7.50. ( energy is worth more than 0) the stock pps should be able to get back above 7 when sentiment turns.
OK, so management is over paid and the investment community hate them. But this discount just doesn't make sense to me. The preferreds are yielding over 11% and to me seem secure and sustainable. What am I missing?
The analysts are ppsitive on the stock. The earnings may or may not support the common dividend but the preferreds seem to offer a great yield. Any thoughts as to their level of safety?
I have tried to remain of a neutral opinion when reading postings. However, in light of pps performance and dividend cuts have now concluded that Davis is both delusional and obsessive. This has not been a good company, is not a good company and I doubt it ever will be a good company.
Don't really trust the common any more but think I will buy some preferred. Dividends look secure and can't beat the yield. Plus, the C turns into a floater which would be as good or better than the current rate. Just might get called.
after to listening to the cc i think the div is good for a year and then reassess. If things go well it holds if not a cut of maybe .22 per year worst case. A .90 dividend on a 5.36 pps is still 16.79%.
Art Penn comes across #$%$ good guy. My current position in PNNT. Is way under water as it is with some of my other BDCs. However, I plan to hold and have confidence that the shareholder will be considered in any actions taken. Can't say that for every management of every stock i own.
but ir will increase their earnings and dividend coverage. Also, it is a 17% guaranteed return. That's why it's done.
actually, Art Penn said they are going to observe for a while and decide. They can keep the div where it is because of .53 of undistributed earnings. Will know more after cc
Pac man is a 29 year old kid with little history but a big ego. Follow him at your peril. he is of the belief that if he is a loud enough blowhard people will believe him and unfortunately he has been correct. Be careful.
Very strange for Gladstone. I have always found them to be straight up with everything. They seem dedicated to the dividend and earnings look good. Massive volume sent it down but I wonder why. I am hoping I get a call or email. In the past Mr Gladstone has called me directly when IR was unresponsive. I didn't expect that but it was a nice touch. You can't help but like the companies when you listen to the CCs.
I called IR but got a machine. The reply to my email was "out of the office until Jan 18th. will answer emails on the 19th.
I called David Gladstone direct and left a message on his line. Will update if I hear anything.
You missed my point. Yes there are more shares outstanding but the ratio to new shares outstanding to dividends paid per share for the last quarter would. Be 1.76 annually based on the number of old shares, the last quarterly dividend paid and the number of new shares. Their quidance is 1.50. This is bad management of expectations as the best explanation or a dividend cut if you want to be honest. As I believe I stated based upon the number of shares I held before the special, the number I now hold, the 3rd qtr div of .50 and the new quidance of 1.50 for the year my newt holdings will pay me $850.00 less this year than the 3rd qtr div would have suggested.
Poor communication. Foolish dividend payment history. A cut in my income and I now hold much less newt. Lost confidence in these guys. Clowns, rookies, fools or worse. You pick the description.