RE:RE:Special DividendI dont think it will affect the share price, they are adding 200 million to the bank from the sale or whatever the amount is, but then giving it out. The stock never went up 75 cents so I dont expect it to drop by that amount either.
Also, I think they should just increase the dividend to $1.00 and leave it there with promises of small increases every year, 3 or 4%..(email management, I already have) You can get almost the same yield in some of the canadian banks as what rei and HR are paying so thats one reason why the stocks have stagnated. I dont see a lot of upside for them. I dont see how HR can get to $20 and have a 3.4% dividend yield when you can buy a canadian bank that if you look at the financials are having spectacular results. Also some of the piplines are doing great like PPL and enbridge, with much higher yields, these reits need better results and its going to take more time -- REITS are still trying to get all their tennants to pay their rent, and fill space. If you drive around there are lots of empty spots in these little strip malls owned by riocan and SRU, plus others like choice properties. I see it all the time. I dont see HR getting to nav anytime soon or within the next 2 years with or without the split up. If they sell the industrial, and split--------office (will trade below nav for sure) retail (will also trade well below nav) and residential (will trade over nav, but its only 23% of their portfolio) I just dont see the numbers adding up to NAV overall.
comments are appreciated if someone wants to share their thoughts on HR split up, or special dividend, or common dividend ---- as long as it doesnt involve conspiracy theorys, the canadian armed forces declaring martial law (someone said that was going to happen by now) or other nonsense ---------- thanks
incomedreamer11 wrote: They are expecting up to .75 $ per share special dividend :
The Transaction announced today is expected to generate taxable income of approximately $225 million or $0.75 per unit of taxable income, including both recapture income and capital gains. H&R anticipates having to make a special distribution in order to ensure the REIT will not be liable to pay income tax. Details of the distribution will be made available to unitholders by year end.