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Msg  4701 of 4760  at  9/24/2021 8:49:10 PM  by

rtlloyd


 In response to msg 4700 by  crashcardigan
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Re: Preferred divvys

  Sorry, I've confused the issue.  I began investing in Newcastle Preferred B back in 2008 when it was in a suspended dividend phase, and on it's ass.
Acquired a load at very depressed levels then held.  Over time NCT resumed dividends, for a while, then stopped for 4 quarters before resuming.  That's when I got a big check.
 
Then NCT started spinning off parts (including NRZ which is now my largest holding) and kept only NCT, which continued to pay even after they changed their name to Drive Shaft (DS.PRB).  In my head I still think of NCT and with NRZ being my largest holding simply posted on the wrong board.
 
It is Drive Shaft that stopped for 3 quarters before they resumed, but unlike when they were NCT have not yet made up the skipped dividends.  Preserving capital to develop their new venture, I presume.  I don't often find a stock that cost $3.50 and pays a $2.44 dividend so I'll hold it till they redeem. I'm surprised they haven't refinanced in this market but I'll happily hold. That Fortress gang is pretty savvy.
 
I did hold GKK common for a while and did well with it.  Sold off the other NCT spin offs and bought more NRZ which has put 5 Grandkids through college so I will never complain.   Sorry for the confusion.


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Replies
Msg # Subject Author Recs Date Posted
4702 Re: Preferred divvys crashcardigan 0 9/25/2021 8:51:33 AM


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