NovaStar to Drop REIT Designation

1 decade 2 months 4 weeks ago Monday, September 17 2007 Sep 17, 2007 Monday, September 17, 2007 6:54:35 PM CDT September 17, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
loading

KANSAS CITY (AP) - Mortgage lender NovaStar Financial said today that it would no longer be a real estate investment trust. That means the company will not be able to pay investors a required dividend. NovaStar has struggled amid the collapse of the mortgage market. Company officials had already said in February that it was considering giving up its designation as a real estate investment trust because it didn't believe it would generate taxable income for five years. Such trusts are required by law to distribute most profit in the form of dividends to shareholders. But the company said today it could not generate the money needed to pay the dividend. The decision was blamed on NovaStar's declining market value and its decision late last month to pull a stock offering.

More News

Grid
List
COLUMBIA - The Missouri State Highway Patrol has confirmed it has fired Trooper Anthony Piercy. KOMU 8 spoke to... More >>
1 hour ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:42:00 PM CST December 15, 2017 in News
COLUMBIA - St. Louis officers arrested a suspect that was on the run in a duplex on Sears Court in... More >>
1 hour ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:29:00 PM CST December 15, 2017 in News
COLUMBIA - The application for the top education position in the state, Missouri State Education Board Commissioner, opened Friday leaving... More >>
1 hour ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:02:00 PM CST December 15, 2017 in News
BLUE SPRINGS (AP) — A commercial real estate records company based in suburban Kansas City has abruptly shut down, leaving... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 7:42:00 PM CST December 15, 2017 in News
COLUMBIA - The Columbia Fire Department say a house fire that killed a cat Friday afternoon started in the kitchen.... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 7:29:00 PM CST December 15, 2017 in News
COLUMBIA - For the past six years Ryan Shultz, the creator/owner of the Candy Cane Crib, has shared a well-lit... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 7:17:00 PM CST December 15, 2017 in News
COLUMBIA - The Centers for Disease Control and Prevention said around half of adults in the U.S. struggle with understanding... More >>
3 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 6:00:00 PM CST December 15, 2017 in Continuous News
OLATHE, Kan. (AP) — A Blue Springs, Missouri, man has pleaded guilty to kidnapping and raping a sheriff's deputy... More >>
5 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 4:51:08 PM CST December 15, 2017 in News
KANSAS CITY, Mo. (AP) — Ten people are facing federal indictment in a $5.4 million methamphetamine distribution conspiracy. ... More >>
5 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 4:07:15 PM CST December 15, 2017 in News
COLUMBIA - Several new businesses will open in Columbia at the start of the new year. Wheely's Cafe, a... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:49:00 PM CST December 15, 2017 in Continuous News
INDEPENDENCE - Police have now cancelled an endangered silver advisory for a 73-year-old woman with dementia who might have been... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:43:00 PM CST December 15, 2017 in News
JEFFERSON CITY – The Jefferson City Public School Boundaries Committee began discussions on boundary lines for the city’s new high... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:29:00 PM CST December 15, 2017 in News
HOLTS SUMMIT - Holts Summit's board of aldermen met Thursday night to discuss creating a city-owned shelter. Currently, the... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:07:00 PM CST December 15, 2017 in News
SEDALIA (AP) — The former administrator of an ambulance service in central Missouri has pleaded guilty to embezzling more... More >>
7 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 2:52:00 PM CST December 15, 2017 in News
COLUMBIA - Police said a 42-year-old woman went missing Friday morning and was considered at risk because of medical conditions.... More >>
7 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 2:11:00 PM CST December 15, 2017 in News
ST. LOUIS (AP) — Some HIV-positive patients in nearly half the counties in Missouri will lose health insurance coverage next... More >>
8 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 1:02:12 PM CST December 15, 2017 in News
ST. LOUIS (AP) — A 37-year-old man is charged in the shooting of two suburban St. Louis police officers who... More >>
9 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 12:28:00 PM CST December 15, 2017 in News
MONTGOMERY CITY - The Montgomery County Coroner's office is investigating how a person died after a house fire Thursday afternoon... More >>
9 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 12:15:00 PM CST December 15, 2017 in News
Columbia, MO
Broken Clouds 35°
10pm 36°
11pm 35°
12am 35°
1am 36°

Select a station to view its upcoming schedule:

Coming Up Next

8:00p
Dateline NBC
10:00p
KOMU 8 News @ 10
10:35p
The Tonight Show Starring Jimmy Fallon
9:30p
Seinfeld
10:00p
Seinfeld
10:30p
Rules of Engagement

Tonight's Schedule

7:00p
Blindspot
8:00p
Dateline NBC
7:00p
The 86th Annual Hollywood Christmas Parade
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld