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Strategies & Market Trends : Dividend investing for retirement

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From: Elroy	5/1/2014 10:09:38 PM
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Medley Capital Corporation Declares $0.37 Per Share Dividend; Announces March 31, 2014 Financial Results finance.yahoo.com Declared a dividend of $0.37 per share Net investment income of $0.38 per share Net asset value (NAV) of $12.69 per share Damn, this report is being received poorly, I think because MCC had beaten their dividend by 5 cents in the previous two quarters, and this quarter only beat it by 1 cent. It's trading down to about exactly NAV. It's sort of hard to understand logically how $12.70 of stuff that pays you 11% per year is only worth $12.70. $12.70 pays you about half a penny in a money market account, but I guess it doesn't (theoretically) have a chance to decline, whereas the BDC NAV may decline if their borrowers default. Still, why these BDCs (PSEC included) that pay out 10% are only trading at 1.0x NAV is a bit of a mystery to me.

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