The common shares closed at $11.29 Thursday, or $38.13 in value for a BONUS unit if the exchange were done on Thursday. The BONUS units closed at $38.15 on Thursday.Because of the safer dividend and upside potential, purchasing and holding the BONUS shares would offer an excellent value. Based on the 6% coupon and $50 par value, each BONUS unit pays $3 a year, or 7.86% based on Wednesday's closing price. The common shares were yielding 8.86%.
Preferred Play on N.Y. Community Bancorp
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