Summit Industrial Income REIT Unit SMMCF

special distribution

[bychoice]

How much will this special distribution be? I hope that it is not too much or the $23.50 won't teally be $23.50 after the tax is paid on the distribution

[SargeX]

I was thinking of buying at $23.25 near the end of the day yesterday but wasn't sure how this was going to work today. I'm sad I didn't as SMU is obviously trading as usual today. I think the special distribution is going to be $2.10 and will be treated as income so if a non-reg account, it would be way better for you to sell right now at $23.45 to have lower taxes and a higher return

[CanSiamCyp]

Hey Sarge: Sorry ... I answered bychoice before I moved up to your post .... but your analysis is spot on. As you will have read, I sold out at $23.20 on Monday ... so I could have waited until today and pocketed more. The problem with the market ... you can NEVER predict which way the beast will move ... and I did not want to get stuck holding the bag on the last date ... and then get dinged

[SargeX]

Hey CSC How she go? Excellent stuff on how you have handled theSMU take-over. Totally agree that it wouldn't have been worth messing around vs your Monday sell. You actually really timed that well. I was going to do a $50k buy yesterday at $23.25 in my wife's RRSP but didn't know how the Feb 17th date was going to work so gave it a miss. Bit of a bummer with it trading as usual

[CanSiamCyp]

bychoice: Not really sure ... but the way that they are describing the closing transaction, it sounds as if the entire $23.50 wll be classified as a cash special distribution. You will then have to wait until you receive your brokerage T3 next year to see the actual breakdown. Summit did alert unitholders in advance that they anticipated that approx. $2.10 of the $23.50 total would be Other

[bychoice]

Unfortunately, I read your post today!! The disposition of my 1000 shares is as follows ($16 500 dividend)