RE:book value A premium or discount (which Accord's market price is) to book is not that relevant in a financial company. Financials are typically so leveraged that even if they sell at 50% of book, that may only equate to 5% discount on assets. Like many small financials, ACD may be a takeover target, but other than that influence, I don't expect the market to suddenly say, oh, wow, this is undervalued. Small financials will almost always be at a discount compared to larger ones. They are not too big to fail, and one bad rumour, absolute fiction or justified, can undermine confidence and take them down. So, I appreciate the dividend, but I'm not expecting some miraculous, steep rise in market price.