Borrowings under the Credit Agreement bear interest, at the Company’s option, at either (1) the highest of the federal funds rate plus 0.50%, the Eurodollar rate for a one-month interest period plus 1.00%, or the administrative agent’s prime rate as announced from time to time, or (2) the Eurodollar rate for the applicable interest period, plus, in each case, an applicable margin based on the Company’s leverage ratio. As of March 31, 2016, the weighted average effective interest rate on the Company’s outstanding borrowings under the Credit Agreement was approximately 3.18%.
I guess SEC filings are above your level of competence.
On May 5, 2016, the Company’s Board of Directors authorized a dividend policy and declared an initial quarterly cash dividend in the amount of $0.025 per share of Class A and Class B issued and outstanding common stock. The dividend will be paid on May 31, 2016 to stockholders of record as of May 16, 2016. Under the dividend policy, the Company will target a cash dividend to the Company's stockholders in the amount of $0.10 per share per annum, payable in equal quarterly installments.
The number isn't meaningful to us because we aren't getting cash. Except the 22 cents.
I guess I cant complain too much. My adjusted average cost is $2.38. Adjusted for the 4 monthly dividends that I got.
The 9% dividend and the $15 million buyback might provide some downside protection. But, these guys, like the last ones are sucking out too much in mgmt. fees.
I guess I should review their presentation.
Not sure why they merged with unwired planet and not sure of their book value
Not sure what the purpose of the 22 cents is.
GEC is down about 7% on the news. This doesn't seem like a great deal to me.
I was seeking a cash out for near NAV.
.025 quarterly on a $1 stock is more than 9 cents on a $5 stock.
Glad to be able to assist you with your grade school spelling & math deficiencies.
One day, a few years from now, you might be able to get your GED.
Its spelled "loser" you moron.
I think TAIT has more upside. And a higher yield.
Don't buy it though. I don't care.
Yesterday traded with the dividend, today without.
Follow the stock price when in doubt. Before the open, it showed $8.50 even though it closed yesterday at $9.75. It automatically reduced it. And todays price doesn't show down because its not.
My broker automatically adjusted my buy order by $1.25. But not my way above market sell order. I had to do that manually. Its highly unlikely it will fill but who knows, maybe they announce Times square sells for 15% above NAV. That ought to give us a 20-25% jump.
Well, the leases came in where they expected them to.
The only way we only end up flat from current prices if with a major market disruption before they sell it.
Still, I wish they would give us a conference call a week before it goes dark.
I have to think this is a negative for the share price.
Of course, the distribution is too by about 13%.
They might be able to raise debt at better prices than they are currently paying which would be a positive assuming there is no equity kicker involved.
I did not turn the drip back on. This way, I can reduce my position another 11% over a year. Plus the upcoming tender offers There are better places for my money.
Their fees are way to high and their performance way too low.
I just don't think they will blow their estimate for times square. I think their estimate was the least they reasonably expected for it. So its really only upside for us. Timing is the only issue. Best case is we get 95% of our money in 15 months. I don't mind it dragging out as long as it means additional returns.
In other words, I don't want them accepting a lowball price for something if they can delay it a year and get 15-20% more.
With liquidations, its mgmts. last chance to look good. So they want to beat expectations. That happens by keeping expectations low.
Todays news throws cold water in the face of all those who couldn't comprehend what was going to happen for many months.
And even the company got it wrong, its a cash DISTRIBUTION, not a dividend. But they are similar as to ex-dates.
Where are the gaps ?
Gross excludes commissions and closing costs but ARE included in their NAV.
Taxes are already accounted for.
Now, if some properties have debt, the debt has to be paid but that's already accounted for in the NAV too.
Bottom line is we should end up with over $12 per share over time. The longer it takes, the more likely we get a little more because they earn money on properties until they sell them.
And, many of us hope for $12.50+ with a favorable deal on Times square.
Finally, there is a possibility of up to maybe $2 per share years from now with a favorable lawsuit.
(that's a kicker, don't buy the stock for that)
My DRIP price was 11.522. Not a great price. Usually with SO my DRIP price is one of the better prices compared to other brokerages.
I guess not a lot of people reinvest in RCKY shares ?
I only did it in my IRA, not my regular account.