Prospect Capital Declares Revised Distributions, National Bank of Greece Buys Back Bonds: Financial Biz Update
The Charles Schwab Corporation (NYSE:SCHW) wants exchange traded fund firms to sign up for a new trading platform that would enable Schwab clients trade ETFs for free, according to Jessica Toonkel at Reuters, who added that “ETF providers, however, have been reluctant to sign on to Schwab’s plan because they would have to pay the firm a marketing fee they say is too high, according to people with knowledge of the discussions.” Presently, Schwab manages its own lineup of ETFs, which hold $8.3 billion in assets; the total domestic ETF market is about $1.3 trillion, says XTF.
Prospect Capital Corporation (NASDAQ:PSEC). in a Friday press release, declared revised monthly cash distributions to shareholders, representing an 8.2 percent rise from the prior announcement in early November, and marking a dividend yield of 12.8 percent based on the closing price as of December 6th, in the following amounts and with the following record and payment dates: 11 cents per share for December with record date of December 31st and payment date of January 23rd; and 11.0025 cents per share for January, with record date of January 31st and payment date of February 20th.
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The National Bank of Greece (NYSE:NBG) said on Friday that it would be involved in a large bond repurchase plan that intends to lower the country’s debt load, while securing the disbursement of its international bailout loans. The government will spend approximately €10 billion, or $13 billion, in the buyback, which will offer between 30 and 40 percent of the face value. Since the bonds were trading at even lower prices than those on the secondary bond market, the government hopes that investors will respond to the offer.
Vantiv (VNTV) has recently priced a secondary offering of 12,454,545 shares of Class A Common Stock being sold on behalf of Fifth Third Bancorp (NASDAQ:FITB) which divestiture would mark around 15 percent of the latter’s ownership position in Vantiv, excluding a certain warrant. Fifth Third Bancorp’s purpose for the sale is to initiate monetization the remaining portion of its position in Vantiv in a considered, orderly fashion over time.