AGNC reported $0.28 of taxable income, and MTGE reported $0.45 of taxable income. Management is happy that their BV went up a lot, but those income numbers mean big divy cuts [both paid $0.65 last time]. Not the time to buy.
MTGE is down today, but earnings release AH stated:
"$0.45 per common share of estimated taxable income
Estimated undistributed taxable income of $0.53 per common share as of June 30, 2014."
This means a dividend cut from $0.65 is guaranteed. Doesn't tell us much re your post.
AGNC is not the best comparable as it is a pure agency play, and WMC is a hybrid. In fact, WMC has been increasing it's non-agency position. Since the non-agency mortgages are not guaranteed by the government, it is good that the GDP is up as it helps to keep the non-agencies performing.
The shares are previously un-issued shares - so it is increasing the number of outstanding shares - but the shares go through your broker, and into your account. The brokers set the timing and pricing of the drip, and different brokers do it differently. The brokers make money on the drip as well. Check with your broker to find out how they do it.
Don't worry about press releases. PSEC doesn't announce most deals. I think they announce deals that are of special interest to the financial world either by size, or type of financing or industry. Run-of-the-mill deals don't rate their own press.
I don't drip 'cause I try to buy additional shares in stocks that are down. Recently that has been PSEC, and I bought more, but it might be something else. Also, you are more likely to get a big dip or even correction in the summer so saving up to buy then has some merit.
Welcome back ... I know the feeling. I flew 250 missions over Laos and Viet Nam when i was younger. The only difference was that I knew I had a target painted on me, and you hoped you didn't. Kinda scary, huh.
I would look into the specifics of any CEF. For example, PHK often trades at 40% - 50% above NAV. This makes them very susceptible to big drops. Not all CEF's are the same so do a little DD other than this board.
You're beginning to sound like a short. The Dow is down 160 points today, and you can't figure out why PSEC is down $0.07. If you are long, listen to Carl.
Dar has put a lot of time and effort into understanding this deal, and communicating it to others. You want him - or others - to spend more time informing you because you post two words. And we don't even know if you own anything. Dar is right: earn some respect by doing a little research and posting a cogent idea or two .... maybe you'll be able to join the conversation.
I should've done that too. Shoulda, woulda, coulda. Then I over-slept this morning - I live on the West Coast - and missed the low lows, but I pulled the trigger on another 10,000 shares at $9.71. Not too bad, and this stock is looking strong.
WS has proven to be stupid time and time again. If they weren't, investing would be a lot harder. One thing is certain, though, they aren't stupid enough to listen to you.
I still think that $0.27 was a typo by Seeking Alpha or whoever did the transcript. I thought he said on the CC that $0.20 would be paid through the remainder of this year with the FFO trending higher than $0.20 by the end of the year.
" ... impact on the NAV of NCT's bankruptcy is largely unknown right now"
Well, one thing that is known is that the max exposure is $44 million ... mice nuts to PSEC.