RE:RE:Special Distribution Details = Worth a Repeat IMOExactly!
The worst format for a Special Distribution! The 63 cent per unit component is completely analogous to the Phantom Reinvested Non-Cash Distributions that some ETFs issue at year end to cover Capital Gains realized by trades during the year (and which investors normally dislike intensely). Most ETF advocates recommend not purchasing units during the latter months of the year cuz otherwise the investor gets dinged with a Capital Gain Special Distribution (Phantom Distribution) as a consequence of their buy-in.
As you alluded, now that HR.un management has a "taste" for this approach (i.e., distributing any Capital Gains generated by an asset sale to unitholders so they are immediately taxable, while retaining the majority of the cash for internal re-investment), we can expect a similar approach each time they divest themselves of the remaining non-priority assets in the portfolio!
Cheers!
jdoubleu wrote: That's a pretty special distribution alright. I get more shares... oh wait, on the same day they consolidate... so I have the same number of shares... and you give me a dime so I can pay for the tax consequences?
I hope they don't sell anymore assets, because I don't think I need any more of these special distributions