High Yield Northstar To Set Dividend

by REIT Wrecks on July 21, 2008

Here is the dividend history (below). The announcement should be out after the market closes tomorrow, 7/22 or perhaps 7/23. What will it be, .36/share, or maybe something else?

The recapitalization of Wakefield should provide some downside protection, but there has been virtually no new investment activity at Northstar since Q1 ’07. Consequently, Northstar is sitting on a lot of low yielding cash that would normally have been invested, and that will definitely cause a drag on taxable earnings.

I much prefer a drag on earnings than imprudent portfolio bets, but a decrease in the dividend will put short term pressure on the stock. In this market there is almost no way to win, except for staying in bed during opening hours….

Declaration Date Record Date Pay Date Amount Type
04/22/08 05/05/08 05/15/08 $.36 Regular Cash
01/22/08 02/05/08 02/15/08 $.36 Regular Cash
10/23/07 11/07/07 11/15/07 $.36 Regular Cash
07/24/07 08/07/07 08/15/07 $.36 Regular Cash
04/25/07 05/07/07 05/15/07 $.36 Regular Cash
01/23/07 02/05/07 02/15/07 $.35 Regular Cash
10/24/06 11/06/06 11/15/06 $.34 Regular Cash
07/25/06 08/04/06 08/11/06 $.30 Regular Cash
04/12/06 04/19/06 04/26/06 $.30 Regular Cash
01/30/06 01/31/06 02/10/06 $.27 Regular Cash
10/06/05 10/14/05 10/21/05 $.23 Regular Cash
07/28/05 08/08/05 08/15/05 $.15 Regular Cash
04/21/05 05/02/05 05/16/05 $.15 Regular Cash

Mortgage REITs
Disclosure: Long NRF

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