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Strategies & Market Trends : Real Estate Operating Companies (REOC) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (54)	3/3/2003 11:20:08 PM
From: 249443	Read Replies (1) \| Respond to of 95

Paul -- re CDX, The last issue of Value Line had mentioned the street's rumor of this occurring due to: 1) CDX stopped its common stock buyback plan, and 2) the company was significantly building up its cash position. I expected this to occur, but I thought Bush's dividend exemption may have put a hold on the decision. "As part of its change into a REIT, the company also expects to make a one-time distribution of $100 million in cash and $200 million in common stock to shareholders." I prefer REOCs over REITS due to the ability of REOCs to maintain their balance sheet credibility during difficult economic times. The company will be paying a $1.20/year dividend and offering cash and common to current shareholders. I'm interested in the change. I'm holding my position.