Washington Mutual Preferred fka WAMPQ

[WG1mil]

I posted this last night as well, was pretty late and didn't get much feedback but thought it may be relevent to your post and help give me some more insite... Did find out they did not pay the 12-15 dividends as they are under ch11 bk protection and won't have to pay them until they emerge.


post from last night:
According to the prospectus: http://www.secinfo.com/dr643.uCc.htm#1stPage

dividends ar due every March 15, June 15, September 15, and December 15 starting on March 15 2008. HOWEVER they are non-cumulative, which basically means they don't HAVE to pay them or at least if they elect not to pay them they do not owe them to the shareholders. Does anyone know if they paid the dividends due December 15th?

The prospectus says that the 7.75% is compounded annually based on the 'liquidation preference ($1,000 per share)'

If they did pay it does that mean they will be paying out $77.5 dollars per share in dividends divided by 4 for the 4 disbursments reguardless of the amount of time or price paid for each share??

help me if i am missing something...