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I haven't talked much about Golden West Financial (GDW) since the merger announcement with Wachovia (WB). It's sort of a dull company and doesn't generate much excitement.

At the end of this month, GDW shareholders will vote to approve the merger. Most of the criticism has come from WB shareholders who think the deal is worth too much. That stock has dropped about 6% since the deal was announced. Assuming all goes well, our GDW shares will soon be exchanged for 1.051 shares of WB, plus $18.65 in cash.

For track record purposes, I'll assume that all the cash was invested in Wachovia stock. Today, Wachovia announced a 10% increase to its quarterly dividend, from 51 cents a share to 56 cents a share.

Posted by edelfenbein at August 22, 2006 11:02 AM