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<title><![CDATA[BlackRock Dividend Achievers Trust (BDV)]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/forumview?bn=61862</link>
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<lastBuildDate>Thu, 24 Dec 2009 18:17:01 GMT</lastBuildDate>
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<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/forumview?bn=61862</link>
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<title><![CDATA[Re: Last day to buy for dividend]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=47&amp;mid=53&amp;tof=1&amp;off=1</link>
<description><![CDATA[As soon as the dividend is paid out this will plunge by that amount so why should I get in now? I will wait. Moreover the higher the Cramer morons push this the lower the yield.]]></description>
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<pubDate>Thu, 24 Dec 2009 18:17:02 GMT</pubDate>
<author><![CDATA[elitetrader101]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=52&amp;tof=2&amp;off=1</link>
<description><![CDATA[return of principle]]></description>
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<pubDate>Tue, 22 Dec 2009 21:56:01 GMT</pubDate>
<author><![CDATA[lfeinsm]]></author>
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<title><![CDATA[Don't forget call option income]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=51&amp;mid=51&amp;tof=3&amp;off=1</link>
<description><![CDATA[BDV started to sell calls against a portion of its portfolio to gain income for payout.   This is not dividend income, but it also isn't part of capital.   They may still have to return some capital to meet its managed payout policy but if you are using dividends as part of your retirement portfolio income BDV is still a good investment.   Some upside if a component stock grows and isn't called away, plus option income as well]]></description>
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<pubDate>Tue, 22 Dec 2009 20:08:01 GMT</pubDate>
<author><![CDATA[stanedel]]></author>
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<title><![CDATA[Cramer recommended this POS.]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=50&amp;mid=50&amp;tof=4&amp;off=1</link>
<description><![CDATA[Just goes to show you that he knows nothing.   
NOTHING!!]]></description>
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<pubDate>Tue, 22 Dec 2009 05:50:24 GMT</pubDate>
<author><![CDATA[jhs669]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=49&amp;tof=5&amp;off=1</link>
<description><![CDATA[You can find the return of capital info now on cefconnect.com..it tells you what % of the distribution is roc.

I wouldn't buy this piece of sh!t. Not only is half of the dividend return of capita..but the distributions have been reduced...and i thought dividend achievers were supposed to raise their dividends???? Not in this dog.]]></description>
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<pubDate>Mon, 21 Dec 2009 22:34:02 GMT</pubDate>
<author><![CDATA[investor952]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=48&amp;tof=6&amp;off=1</link>
<description><![CDATA[Thank you for the clarity, the old mantra know what you buy stands!]]></description>
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<pubDate>Mon, 02 Nov 2009 14:50:50 GMT</pubDate>
<author><![CDATA[wiredless01]]></author>
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<title><![CDATA[Last day to buy for dividend]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=47&amp;mid=47&amp;tof=7&amp;off=1</link>
<description><![CDATA[Good activity all week means those looking to collect the nice dividend (.1625 per share) must own by the close of business today. Tomorrow, 9/11, the stock goes ex-dividend, meaning without dividend.]]></description>
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<pubDate>Thu, 24 Dec 2009 18:17:01 GMT</pubDate>
<author><![CDATA[lafs60093]]></author>
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<title><![CDATA[Return of Capital Increased]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=46&amp;mid=46&amp;tof=8&amp;off=1</link>
<description><![CDATA[A breakdown of the quarterly dividend reveals that % of return of capital exceeds income earned by the fund. Any comments, anyone?]]></description>
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<pubDate>Thu, 10 Sep 2009 16:19:49 GMT</pubDate>
<author><![CDATA[lafs60093]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=45&amp;tof=9&amp;off=1</link>
<description><![CDATA[Vanguard has an ETF, symbol VIG.    Invests in companies that regularly raise their dividends.    Well diversified and not too much $$ in any one industry group.

Currently trading in the 42's (08-11-09).    Might want to wait for a market selloff as it has really run up lately.    Pays annual divvy in the 2.5 - 3.0% area depending on purchase point.

I don't currently hold it but am watching.

Kel]]></description>
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<pubDate>Tue, 11 Aug 2009 15:24:13 GMT</pubDate>
<author><![CDATA[keltus1952]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=44&amp;tof=10&amp;off=1</link>
<description><![CDATA[Yld -   is based on current price rather than NAV. YLD for BDV comes from div. & writing options on the underlying portfolio. YLD = Annual distribution per share divided by market price.

 It has been trading at a significant discount to NAV for most of the year, which results in ahigher yld than if yld were based on NAV. At Blackrock site you can view top holdings - name brand high div. common stocks.]]></description>
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<pubDate>Sun, 26 Jul 2009 11:58:54 GMT</pubDate>
<author><![CDATA[countrarywise]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=43&amp;tof=11&amp;off=1</link>
<description><![CDATA[Thanks.   It's just knowledge born of painful experience.

I'm not even sure I can come up with an argument for using CEFs any more.   It was not to hard to prefer them to regular mutual funds, but hard not to dump them for ETFs once that became possible.   I still puke at the high expense ratios.   I run my own fairly active private buy-write portfolio and pay somewhat expensive ($27) commissions (price of a private banking relationship) and my expense ratio is a lot less than 0.5%   These guys get paid for what, quarterly reading of a book published by Mergent that costs a couple hundred bucks?   Ripoff.]]></description>
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<pubDate>Tue, 11 Aug 2009 15:24:12 GMT</pubDate>
<author><![CDATA[keineahnungbaby]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=42&amp;tof=12&amp;off=1</link>
<description><![CDATA[kein, thank you for your answer.   You have explained very well what is going on behind the curtain of what looks like a wonderful yield.   The published yield is deceitful.

EVERYONE interested in this fund should read your post TWICE!!!]]></description>
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<pubDate>Wed, 01 Jul 2009 23:18:46 GMT</pubDate>
<author><![CDATA[originalfred66b]]></author>
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<title><![CDATA[Re: Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=41&amp;tof=13&amp;off=1</link>
<description><![CDATA[It comes from return of capital.   Go to the Blackrock site, click on pricing and yields for CEFs, click on BDV, and on the left sidebar click on Section 19 notices.   This will tell you what proportion is investment income (dividends on stocks) and what portion is return of capital, i.e. your money merely being returned to you).

For what it's worth, the June section 19 notices were published yesterday and they are worse than before.   Fully 61% of the dividend paid in the last 3 months is your money being given back to you;   it was 40% in the previous 3 months.

It could be argued that once the dividend shows an increasing proportion of investment income that BDV would be worth a look, but I remain skeptical.   I notice that they've had to write calls against nearly a quarter of their positions in order to generate extra investment income (which means dividend income from the underlying stocks is really really really low).

The real nasty part of CEFs is that they don't disclose the stuff in the section 19 notices up front, but rather in notices named after a section of legal code that the average investor is unlikely to know.   So they technically do disclose, but how many people really read the footnotes?   What they should be doing is an upfront breakdown of the yield into investment income (further broken down into option income and regular dividends) and return of capital.   The % that is option income is also important to know because decreasing volatility (decreased option income) means they have to overwrite more of the portfolio to maintain the yield, and the more you overwrite the portfolio the more you limit upside gains in the underlying stocks.   People who play with CEFs   successfully by analyzing the relation between movement of underlying stocks, investment income, return of capital, discount to NAV, etc. have to be fairly sophisticated, or at least much more than the average person on the Yahoo boards.

If you want an honest (lower)yield, lower management expenses and better potential for gains in the underlying value of the stocks, you should find a plain vanilla dividend ETF.   DVY is a popular one, but perhaps Vangard has one with lower expenses.]]></description>
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<pubDate>Mon, 21 Dec 2009 22:34:02 GMT</pubDate>
<author><![CDATA[keineahnungbaby]]></author>
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<title><![CDATA[Where does the yield come from?]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=40&amp;mid=40&amp;tof=14&amp;off=1</link>
<description><![CDATA[The BDV dividend is $.163 x 4 = $.652 per year.

The NAV is $8.34.   That gives a dividend yield of 7.8%.

But look at some of the top holdings and the dividend yield of those stocks:
Chevron Corp. 3.8%
AT&T, Inc. 6.8% 
ExxonMobil Corp. 2.4% 
Wal-Mart 2.2% 
Coca-Cola Co. 3.3%

Then consider the 0.83% in management fees.

So where is this fund getting a 7.8% yield?   Something does not add up.]]></description>
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<pubDate>Tue, 22 Dec 2009 21:56:00 GMT</pubDate>
<author><![CDATA[originalfred66b]]></author>
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<title><![CDATA[Re: Discount to NAV]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=36&amp;mid=39&amp;tof=15&amp;off=1</link>
<description><![CDATA[The dividend has been reduced to .1625 per quarter.]]></description>
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<pubDate>Tue, 23 Dec 2008 11:33:11 GMT</pubDate>
<author><![CDATA[wmshall]]></author>
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<title><![CDATA[Re: Discount to NAV]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=36&amp;mid=38&amp;tof=16&amp;off=1</link>
<description><![CDATA[The December dividend was eliminated. That has brought about negative market sentiment.]]></description>
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<pubDate>Tue, 23 Dec 2008 11:33:10 GMT</pubDate>
<author><![CDATA[jkkeyser]]></author>
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<title><![CDATA[Re: Discount to NAV]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=36&amp;mid=37&amp;tof=17&amp;off=1</link>
<description><![CDATA[I hope it lasts long enough for me to get some more.]]></description>
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<pubDate>Sat, 06 Dec 2008 04:01:28 GMT</pubDate>
<author><![CDATA[dugupinsac]]></author>
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<title><![CDATA[Discount to NAV]]></title>
<link>http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&amp;bn=61862&amp;tid=36&amp;mid=36&amp;tof=18&amp;off=1</link>
<description><![CDATA[Interesting divergence on BDV to the market recently...currently the discount to NAV is 17% (eod 11/24).   I've been accumulating recently, particularly given the strength in bank and oils.   This discount isn't sustainable.]]></description>
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<pubDate>Tue, 23 Dec 2008 11:33:10 GMT</pubDate>
<author><![CDATA[cmac10]]></author>
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