No, no surprise really. This dividend was declared last April. It is also the final pre-declared dividend, which IMO opens up the door to divvy increases starting for April :) I'd consider buying on pps weakness.
On 5th of July last year, ASR put out a sell rating -- after LINE tumbled after July 1. Also a $24 fee for a report (publication ASTR07131245). :meshrugs:
The SEC filing says it might be able to be treated as interest. (See section 5 of the SC TO-T filed on 01/23/2014.)
There seems to be a scenario in which there is a capital gain or loss based on the tender price offer. Then, any subsequent cash payments would be treated as interest.
I am not a tax professional nor play one on television. Do consult your own tax advisor.
Two offers is "not much interest"? Better than none, having the company die and wither.
Fidelity snail mail (received yesterday) is saying their deadline is the end of the business day 1/21/2014 if you want to tender.
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
12/31/2013 13,716,591 2,320,695 5.910553
12/13/2013 13,791,830 1,949,826 7.073364
11/29/2013 11,900,752 1,170,143 10.170340
11/15/2013 12,051,035 3,704,911 3.252719
10/31/2013 10,805,005 2,443,224 4.422437
10/15/2013 9,805,678 1,299,184 7.547567
9/30/2013 9,500,021 1,881,932 5.048015
9/13/2013 9,013,457 2,625,482 3.433068
8/30/2013 10,162,085 1,100,058 9.237772
8/15/2013 10,251,567 3,004,125 3.412497
7/31/2013 9,742,779 2,524,690 3.859000
7/15/2013 9,095,297 11,801,092 1.000000
6/28/2013 11,766,852 4,268,153 2.756896
6/14/2013 11,223,213 2,503,225 4.483501
5/31/2013 10,761,505 2,099,225 5.126418
5/15/2013 10,020,015 4,048,377 2.475070
4/30/2013 10,621,989 1,170,962 9.071165
4/15/2013 10,257,782 1,364,467 7.517794
3/28/2013 9,651,531 1,951,140 4.946611
3/15/2013 10,218,122 1,352,936 7.552554
2/28/2013 9,895,171 3,023,570 3.272678
2/15/2013 9,730,520 2,200,955 4.421045
1/31/2013 7,300,956 1,620,994 4.503999
1/15/2013 5,460,759 1,870,777 2.918979
I would have gone along with Endo's offer, but I find downgrades in and around buyout times to be rather "interesting."
Makes sense since there can't be more tenderable shares than there are shares. I'd like to know how does a broker force you to cover?
Click to p. 2 of the Barron's article where it says
The logic for Annaly over American Capital Agency Corp. (AGNC) boils down to a longer history as a public company, a bigger market cap, and deeper trading liquidity.
So he's criticizing the lack of granularity with which the Fed would implement the easing. I suppose that's would be valid if he's suggesting a softer transition than Ben's approach might accomplish.
Go read Bernanke's comments again. 6.5% was his trigger for raising interest rates.
"For example, assuming that inflation is near our objective at that time, as expected, a decline in the unemployment rate to 6-1/2 percent would not lead automatically to an increase in the federal funds rate target, but rather would indicate only that it was appropriate for the Committee to consider whether the broader economic outlook justified such an increase. All else equal, the more subdued the outlook for inflation at that time, the more patient the Committee would likely be in making that assessment."
This isn't the reflexive trigger you claim.
He said it's not an automatic trigger for tapering. It's an automatic trigger for the committee to consider what step they might want to take.
1:04 pm A More Optimistic Fedby Sudeep ReddyAdd a Comment
The Fed statement is in. No change in policy, as expected, but the central bank sounds more optimistic about the economy and the labor market ahead. It says "downside risks to the outlook" have diminished since the fall. That keeps tapering of the Fed's bond-buying program in play for the fall.
Ben is on record, I believe, that fiscal policy would be needed eventually. My (cynical) guess is congress just waits until Ben retires so they can do nothing and/or blame Ben.