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

Special distribution = tax recalculation

[Gord_Alberta]

I fail to understand the continued questions... As per the email I received from EIt's office.
1) There is no cash payment
2) The number of shares everyone owns remains the same

Therefore, the special distribution is for accounting / tax purposes only... For shares held in your TFSA or RRSP, this means nothing. In your investment account, the new numbers are for your accountant / Revenue Canada.

Yes, they should not have used the word "distribution" in their news release. Some employee needs their wrist slapped for the improper wording.

[oilandgasmick]

Gord- Thanks for confirming what I suspected was the case. The press release says that there is no cash distribution but instead you are paid in like units followed by a consolidation after which there the number of units remains unchanged. So no cash and the no. of units is unchanged thus there is no distribution payable to those whol hold in the RRSP accounts. I agree that this was poorly