Hi,
I got presented with a new problem yesterday. Don't know whether it's good new, bad news or perhaps a little of both.
As you know I have been converting most of my HR cash reserve to HR-A which is their preferred stock that pays a nice 8.78% dividend. Yesterday HR announced that they are going to redeem the preferred stock.
That's probably pretty good for the stock I own since they will be reducing their debt.
It sure as heck is going to cut down on my income with the MM only paying about 1%. Well, it sure was nice while it lasted.
Newport tells me my profit with HR is at 73%,(not bad for just about 3 yrs) and that doesn't include dividends which work out to about 15% annually from the original purchase price.
Perhaps with the decreased credit cost the company will be able to raise the dividend by a greater amount than they have every quarter.
Bernie
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