Incitec Pivot Ltd T.IPL

Gone

[Rakaposhi]

My order for $20.21 filled the other day faster than expected. Out mostly. Some shares left in the corp which I will let ride. Now have even more PPL than before and some other stuff. Pretty well made up from the dividend cut last year so not too bad.

I think the primary objective of the board was shareholders collecting divindends, to be honest. And in the PPL deal they bring that to the current shareholders, as much as possible. PPL can then bump their divvies with HPC when the time comes. Not ideal, but better than selling out to BIP.UN. This way, it is a free roll-over vs having to deal with cap gain with the BIP.UN deal, not to mentioned the people who have to reconcile the Section 85 roll-over from IPL.UN to IPL back in 2013. The board had lost trust in Chris a while ago, something needed to change and Brookfield led the charge. Like Sarge says, he was a BTO and it bit him where it hurt in the end.