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Hudson City Bancorp, Inc. Message Board

strum_this 6 posts  |  Last Activity: 23 hours ago Member since: Nov 4, 2005
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  • strum_this strum_this 23 hours ago Flag

    Also, you can change which positions are contributing to the FRIP at any time, up to and including the payout date of that position. And if it wasn't clear, all purchases occur free of charge - that's the point - you can reinvest little bits of money - as little as one share's worth - without incurring a $7 trading fee.

  • strum_this strum_this 23 hours ago Flag

    I keep mine in the DRIP with EPD because at the time I wanted to start DRIPing my EPD units, Scottrade did not participate in it. I don't know if they do now, or not. Currently Wells Fargo is the Direct Registrar for EPD, so that's where my account is. It used to be BNY Mellon, but they changed 1-2 years ago so the account migrated to Wells. It's not as convenient as having it in my brokerage account but I don't trade around my EPD position anyway so it's not an issue for me.

  • strum_this strum_this 23 hours ago Flag

    This is all wrong. I use it regularly. Here is how it works. The dividends for the positions you specify (all or none of the dividend, per position) goes into a separate "FRIP account". On the date that you specify, the money in this side account is reinvested in stocks of your choosing. However, only whole shares are purchased so any remainders are kept in the ongoing balance of the FRIP account.

    You specify what goes in, what goes out, how that gets allocated to new stock, and when the trades happen (so far the trades happen around mid-day on the day I specify). Only whole shares are purchased. FRIP funds that don't fit into whole shares remain in the account and will be applied toward the next trade.

  • strum_this by strum_this Aug 8, 2014 10:46 AM Flag

    $70.43 after the 5% discount. Gotta love the drop we had heading into the payout.

  • Reply to

    Terrible repurchase program

    by eagles123 Aug 5, 2014 12:14 PM
    strum_this strum_this Aug 5, 2014 2:46 PM Flag

    Yes, and the analysts really reamed them on the call for it. Very clear that they are unhappy that mgt has removed even the *option* to repurchase shares given that we are now trading at a 13% discount to NAV.

  • Reply to

    good earnings

    by hoopsyah Jul 31, 2014 10:00 AM
    strum_this strum_this Jul 31, 2014 2:22 PM Flag

    For me it's because we have the same story as always. $3.6B of equipment on the books, $1.8B of net debt, but only get a market cap of $600M. This stock is, as always, priced for liquidation. That (and the div) is the only reason I don't just sell it and go buy myself a fancy car...

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