OTCPK:ICPVF - Post by User
Comment by
Beckysbosson Aug 08, 2019 12:34pm
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Post# 30007367
RE:Is a new equity offering being planned?
RE:Is a new equity offering being planned?
Dilution comes thru the DRIP, there is a large participation in the DRIP plan at IPL which enables them to hold back the cash that would normally be paid out to provide capital for the plant. Veresen used to do this when building out their midstream operations, it worked well. In the end Pembina took them out.
No need likely for a share offering, they just recently closed the $750m subordinated hybrid note.
From their most recent presentation - Undistributed cash flow from operations is over $670 million generated during 2017 and 2018. Premium DRIP generating $300 million annually.