Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.P.A

Registered accts and Tax free accts lose , benefit ???

[bbzzzz]

I cannot understand how this accounting "distribution " will result with no benefit to the above mentioned accounts if a "special distribution " has been declared .

I see the benefit of an increased adjusted cost in a non-registered account but why no provision for a "special Distribution" in tax free accounts? Is this a form of discrimination amongst account types ? A legal challenge ??
   I feel this is a good question for Investment Relations . I have not seen this before it must be a new tax concept .....someone at CRA had their helmut on too tight !!

 Seasons Greetings to all !!

tedz

[bcsc]

There is no Diviidend Tax credit on holdings in Registered accounts or TFSAs which affect far more securities and individuals than this. Also no foreign tax credit on US dividends subject to withholding tax in TFSA.  Oh, and lets not forget that the 50% (current) Capital Gains exclusion does not apply to Registered accounts either, the full capital gain is taxable at the marginal tax rate

[Karren411]

Well said, thumbs up

[bcsc]

If EIT.Un were to pay a special dividend in cash, it is likely the share price would drop by approximately that much on the ex-dividend day, much as it does every month In this arrangement the consolidation of the shares will increase the NAV per share. If you believe in an efficient market, that should lead to an increase in the market price.

[Gord_Alberta]

The company does not tell anyone where to hold their investments. This is a decision we make knowing the tax implications. So why would there be a potential "legal challenge"? I know my TFSA account has no tax repurcussion. My RRSP has tax implications when I withdraw the money. My investment account has annual tax implications; my responsibility to figure things out...

[MollyRJ]

Gord , l have posted in the past that EIT is the biggest holding l own , representing about 30%  of my portfolio. While l have the utmost respect for Rrett and his mgmt team this press release is the most convoluted piece of white l have ever seen. I have Emailed them asking for a human being to phone as it seems whoever composes their press releases is somewhat lacking. Like you my EIT is in

[Gord_Alberta]

My wife and I have more than 90 percent of everything we own in this stock; seriously... Which is why I emailed the company & shared their response on this Board. I agree that their initial press release was convoluted (misleading), yet I give the company 100% credit for immediately responding. My wife had already spent the imaginary dividend... LOL

[MollyRJ]

Hello Gord, pretty big call on EIT, 90% most out there would tell me with 30% that l am making a mistake. For both our sakes hope you are right and my commitment to EIT shows it, but l am somewhat more diversified than you. You know the adage , all your eggs in one basket. I assume you no5iced unless you are one of thousands that have the in-house created SH trolls on ignore that that group of

[Gord_Alberta]

Molly; not sure if you are able to see; I have almost 150 posters on ignore. Way too much clutter & spam if I am able to read their posts... Regarding my investment strategy, I used to be 100% invested in mutual funds; for diversification. When I found eit; I conducted my research. Contacted family members & others I trusted; Stated that this company looked exactly like a mutual fund; and

[bubba9]

About 2 years ago I disagreed with Gord. Told him I would never put more than 30% in one holding. I broke my rule and doubled down to 60%. He's not wrong and I wish I had put more in . I also have LBS and DGS just to spice things up and I LLOOVVEE banks...

[Jtpatrol1]

  Interesting

[Jtpatrol1]

[Joe455]

Trevor, no one cares if a moron retracts a statement.  Please do everyone a favor and piss off.