RE:RE:RE:RE:RE:You make some good points ... ffhwatcher3 wrote: SNCF - They had 15.1M shares at July 15, 2015. That makes their dividend $500k/mo (or 100,000+ shares if they are a member of the DRIP and they get more and more each month) and if you follow Sedi.ca you can track that, in fact, this is happening with SNCF each month.
Going fwd, that is 1.2M shares in the DRIP via SNCF and in 2015 there are only 1.45M shares in the DRIP.
Are you suggesting that if SNCF is in fact trying to liquidate (how do you know that trade is them?) that those 4M shares are likely no longer in the DRIP and if they are liquidating than they may liquidate all their shares and may therefore pull out all their 1.2M DRIP shares?
That would be significant.
On the other hand, Denis Gallagher is purchasing shares constantly in the open market. Something like 27k shares so far this year alone is about $135k. Not chump change. His holdings are up to over 700,000 shares, making his dividend in the same ballpark as his salary.
Interestingly enough, he does not look to be in the DRIP. There could be regulatory reasons for that (he could buy shares during a blackout period via the DRIP which may not be permitted). CFO is also being some small amts. $35k or so this year.
Interesting times, indeed.
It definitely was SNCF that sold 4m shares on Aug 05 through a secondary offering. I did not have access to the Term Sheet but d_trump did and he confirmed that. They had originally proposed to sell a bit less than 8m shares to raise $41m CAD but scaled it back. d_trump advised us that as per the term sheet SNCF would have to wait 90 days to sell more shares if they chose to.
SNCF had always received their dividends in shares (DRIP) and as I said every month the transaction would be reported on the INK reports which are generated from SEDI.
Strangely there has been no SNCF DRIP transaction reported for August….
Also it looks to me that the sale of the 4m shares has yet to be properly reported.
At a minimum there seems to be some reporting issues. Worst case there may be some nasty surprises pending.
As I said personally I would not buy STB at any price until these issues whatever they actually are have been resolved.
As Always; Do Your Own Due Diligence; It’s Your Money !!