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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Roger B Finlen who wrote (1498)8/11/1998 8:45:00 AM
From: Benkea  Read Replies (1) | Respond to of 3627
 
Roger:

You are absolutely right. My intention has always been long-term on these. Until CD common recovers stability, the Prides will not trade on the value of its' incredible yield in these market conditions. However, as long as the dividends are paid, I think it as safe a bet as any in this overvalued market that CD will recover to the mid-20s by conversion. At 1.3514 in the mid $20s + the $10.34 in dividends payable between now and 2/15/2001, they still look pretty attractive.

Incidentally, although CD can suspend dividends, they are fixed at .94 per quarter and will compound QUARTERLY (per the prospectus) if any dividends are delayed.



To: Roger B Finlen who wrote (1498)8/12/1998 3:20:00 PM
From: Wren  Read Replies (3) | Respond to of 3627
 
I really appreciate your informative post on the Prides. I looked into these and simultaneously sold one-half of my CD and purchased an equal dollar amount of the CD+I. I feel a lot better about my position. I will be getting a 13% return on the CD+I with, I hope, a good chance for capital appreciation on top of that.


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