Not exact matches
Shareholders in Deutsche Bank are said to be upset that a strategic turnaround
at the lender is yet to
yield promised returns.
The SEC
yield reflects the rate
at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund's past dividends paid to
shareholders.
Currently, BXMT's dividend produces an approximate 8.1 % pretax
yield in the current share price and
at that level, its tax deduction will provide most individual
shareholders in the top bracket in the pretax equivalent of another 90 bps of
yield.
MS: (Editor note: After explaining this to me twice, he provided the following example) Let's say that you are the lone
shareholder in a fund and, when you invest, the fund in turn buys a single bond
at a 2 %
yield.
While their
yields vary dramatically, all of them send
at least some money to
shareholders.
QVAL appears to be just under the average of its «active» ETF peers, in between a couple other notables: Cambria
Shareholder Yield ETF (SYLD)
at 0.59 % and AdvisorShares TrimTabs Float Shrink ETF (TTFS)
at 0.99 %.
However, the
shareholder yield strategy benefits from a big bias which is that the portfolio, across almost any valuation metric, is trading
at a discount to the overall market.
One minute he institutes a dividend policy that is
at first based on a market value
yield, until his largest
shareholder rightly suggests on a conference call that a more logical basis would be book value, to which he agrees, only to subsequently update the policy based on market value (again).
A much better approach is to be size agnostic, and to look
at all of the cash flows, what we call «
shareholder yield.»
I'm merely stating that after funding the pension (in line with mgmt comments) and paying the expected dividend (while not an obligation to
shareholders, mgmt knows the company's relative valuation is
at least partially based on its
yield relative to peers and will not likely cut it) there is no capital left for growth, share repurchaes or to raise the dividend.
Since the mutual fund
shareholder has no control over the fund manager the
shareholder is
at risk of the fund manager realizing bond losses in an attempt to redeploy into higher
yielding bonds.
And if a business can't redeploy the earnings
at higher
yield, it makes sense to give it back to
shareholders in form of dividends.
Another good use of the
shareholder yield is that it tells you approximately what rate of return you can expect if the company doesn't grow
at all and if the stock valuation remains static.
5G FWA solutions are likely to be largely targeted
at enterprises as part of Verizon's business - to - business packages and while they aren't expected to immediately
yield significant profits, the telecom giant may be using them as an attempt to further test some of its generally applicable connectivity technologies while simultaneously starting to generate some returns on its massive networking investments several quarters earlier than its
shareholders were expecting to see them, according to some industry watchers.
Partners
at private equity firms raise funds and manage these monies to
yield favourable returns for their
shareholder clients, typically with an investment horizon between four and seven years.
In a note to investors, however, Nussbaum wrote: «We don't think Simon would buy Mills
at less than a 6 percent
yield, as Simon
shareholders would not likely be thrilled with a dilutive deal and the assumptions of outstanding legal liability.»