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Fly News Breaks for July 26, 2016
MCC
Jul 26, 2016 | 08:17 EDT
Wells Fargo expects Medley to reduce its dividend to 24c from 30c when it announces its results on August 9. The firm recommends buying the stock on the resulting "downside volatility." The firm says that recent changes to the company's NOI incentive fees protect shareholders in the event of a decrease in its NAV, while its dividend yield would still be 13%+ even if it cuts its dividend to 24c from 30c.
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