New Media files $100M stock shelf

One day ahead of its spinoff from Newcastle Investment (NCT), New Media (NEWM) files a common stock shelf offering for up to $100M worth of shares.

SEC form S-1

In when-issued trading, NEWM fell 2.6% to $13.80 yesterday, but is up from the initial price of $11.

Comments (4)
  • rmtolchin1
    , contributor
    Comments (11) | Send Message
    How is this going to affect the proposed 20 % dividend ?
    12 Feb 2014, 09:04 AM Reply Like
  • taxman100
    , contributor
    Comments (620) | Send Message
    What they said is their cash yield is 20% on equity. That is not the same as 20% dividend. It is hard to say what that would lead to for an actual dividend payment.
    12 Feb 2014, 09:19 AM Reply Like
  • James_B
    , contributor
    Comments (232) | Send Message
    From what I understand, a stock shelf is the amount of stock that is permitted to be issued at a later date, but the company has not issued any more shares.


    Looking at the investor presentation, the company provides a range for what the dividend will be but I don't think they will end up paying a 20% dividend. I would imagine it is high, but not 20%.
    12 Feb 2014, 09:35 AM Reply Like
  • rmtolchin1
    , contributor
    Comments (11) | Send Message
    Another NCT spinoff, NRZ, is showing signs of life lately. They invest
    in excess mortgage servicing rights and just purchased HLSS, part of the OCWEN
    group. I strongly recommend it.
    22 Apr 2015, 04:48 AM Reply Like
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