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Non-Tech : Income Investing
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From: YieldHog3/19/2013 4:18:31 PM
1 Recommendation  Read Replies (2) of 52130
 
ASRVP - Bought 400sh @ $25.15. ASRV is a small central PA bank. This is a trust preferred with a 8.45% coupon. The ex-dividend ($0.53 per share) is 3/26/13.

I would categorize this as a high risk purchase, although the bank has been profitable the last 3 years, the common is close to a 52 week high and the 10K states the holding company has enough liquidity to pay the dividend.

It just seems strange that there would be a big sell off so close to the ex-div date. It could be a pending call, however, the would still result in a profit as the redemption price plus div would be $25.53 at a minimum
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