RE:Ecn capital gains implication question.
Blueswin wrote "...because they would need to claim the $7.50 in capital gains implications?"
???
There is no such thing as a claim for $7.50 "capital gain".
After the distribution of the dividend, the shares should drop by $7.50 (give or take a bit).
Except for trust accounts (RRSP, TFSA, etc...) the dividend will need to be reported in the year it is received. The capital loss does not need to be reported until the shares are sold.
We do not know at this time the exact timing of the dividend payment.
If the $7.50 dividend were to be paid in 2022 with an ex-dividend date in 2021, some taxable acounts may see a substantial tax advantage by selling in 2021 - after the ex-dividend date - and taking the capital loss to reduce other capital gains accumulated in 2021.
Until we know the exact dates (record and payment dates) we can only speculate on possible outcome.
Personally I expect ECN shares to trade in the $4-$5 range soon after the $7.50 distribution.