NovaStar Drops Dividend

"The company said the decision not to declare a dividend will end its tax-advantaged status as a real estate investment trust. The company, which had planned to pay out $157 million to meet REIT tax requirements, said the move will force it to include a charge for penalties and interest, and a valuation allowance against its deferred tax assets." -- Once upon a time not too many months ago we were chided for predicting this would happen...