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Newcastle sets New Media distribution

  • The distribution date for the New Media spinoff will be made on or about February 13 to common stockholders of record on February 6. New Media's stock symbol will be NEWM.
  • Newcastle (NCT) shareholders will receive 0.07219 shares of New Media for each share of Newcastle they own. When-issued trading commences on February 4.
  • Previous coverage
  • Press release
Comments (4)
  • shrimper1111
    , contributor
    Comments (47) | Send Message
     
    nice deal these guys are savvy...25% div and plenty of room to grow..
    28 Jan, 08:21 AM Reply Like
  • Len Friedman
    , contributor
    Comments (48) | Send Message
     
    The spinoff is of considerably smaller value than stated would be the case in a SA piece penned in December, 2013. At that time, the author said NEWM shares would be distributed on a 1:1 basis and not a fourteenth/unit basis. Not researching for myself as I should have, I added to my 6,600 units and now hold 8,000. I'd benefited last year from the spin of NRZ which I sold a couple of months later when I saw it was going nowhere strikingly good. My view held that, of the two, NCT would prove to be the superior long term investment. I continue to hold that opinion.

     

    That said, 8,000 units of NCT will receive 577 shares of NEWM. Unless the new shares are priced at just a few dollars, I'll be happy enough to give things at least a couple of months to exhibit momentum, be it an upward bias or not.

     

    I need to verify better next time!

     

    Len
    28 Jan, 06:28 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5346) | Send Message
     
    8,000 units, nice! I'm far behind that. But I have been adding to (NCT). Yup, I think it is the superior investment, but I hold on to (NRZ). It has doubled its dividend since its spinoff.
    28 Jan, 11:06 PM Reply Like
  • shrimper1111
    , contributor
    Comments (47) | Send Message
     
    nrz will be another nsm,ocn,wac. you are penny foolish

     

    and pays 11%
    29 Jan, 11:57 AM Reply Like
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