KBK Capital Trust I 9.50% TruPS (fka KBKCP)

[Gideonmagnus]

Assuming they have the ability to pay deferred dividends, it would not appear to be a good strategy to NOT pay them in order to buy back more on the open market. The additional deferral of dividends per quarter likely far exceeds the amount of price discount they can capture by buying back a small quantity.