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ABNRY - ABN AMRO - 8% Yield Is A Warning Signal Not A Buying Signal
ABN AMRO Bank N.V. - ADR
ABN's underperformance run continues
Since I last wrote on ABN (OTCPK : ABNRY) in May the shares have struggled, falling a further 3.7%, a slightly worse performance than the European banking sector as a whole (-2.5%). The YTD return is now -9% and the 1-year return -24% (pre-dividends).
Source: Yahoo Finance
I remarked in my last article that the key problem facing ABN was that the investment case had been hijacked by a single issue, the dividend, around which there was growing uncertainty. I noted that investors were having to revise their original thesis