Friday, December 19, 2008

Glimcher Realty

I have discussed Glimcher Realty (GRT) several times during my posts.  My recent buy of GRTPRF is up over 100% just on the share price.  I also mentioned that it was not clear to me that this REIT would fail when I noted that the common share price fell below a $1.  I am certainly not predicting it is out of the woods.  The company did declare its regular common and preferred stock dividends this morning.   Yahoo! Finance

When I bought the GRTPRF at $2.9 I noted that the dividend yield was 75% at my cost.  The person who sold it to me at that price may prove to be prescient.  For now, at least, with GRT declaring payment in full for the quarterly dividend for this preferred issue, it looks like I got the better end of the deal at least for now. 

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