MFS Municipal Income Trust V.MFM

Primary Symbol: MFM

MFS Municipal Income Trust (the Fund) is a diversified closed-end management investment company. Its investment objective is to seek high current income exempt from federal income tax but may also consider capital appreciation. It invests approximately 80% of its net assets, including assets attributable to preferred shares and borrowings for investment purposes, in municipal bonds. These municipal bonds include debt securities issued by or on behalf of states, territories, possessions of the United States, the District of Columbia, and their political subdivisions, agencies, or instrumentalities. The Fund invests in various sectors, such as hospitals, secondary schools, colleges, schools, and water and sewer utilities. It has investments in areas including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Guam, Hawaii, Idaho, and Illinois. Massachusetts Financial Services Company is the investment adviser of the Fund.

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MFS Municipal Income Trust > At Least Creditors

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Comment by 2investorknoton Nov 17, 2017 12:42am

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Post# 26981742

RE:RE:RE:RE:RE:RE:RE:RE:RE:At Least Creditors

I agree with many of your pts Matt. Dilution kills the long term shareholder. I have one junior that I had 424,000 shares at around 20 cents or so. Then they had a 1:10 rollback - so I had 42,400. Then another 1:3 rollback.... now I'm sitting at 14,133 and its trading in the 30 cent range. CEO got a great salary, continues to get stock options, etc. It doesn't seem to matter if the company has a negative cash flow (or any income coming in for that matter), the management just reward themselves irregardless. One of the exception though has been Hite. But I do agree that yes, he has been highly ineffective and yes, he has cost all shareholders lots of $$$ by these wasted years.

I am afraid my shares of Marifil are going to dwindle down to nothing as well but I don't see the alternative once I get past my anger. The only thing that I can do is vote to reduce (or reject) new CEO's consulting compensation package. Maybe that will send some sort of message to the Board.

I am not very hopeful with this guy who has zero experience in South America. But the Board hired him so that's out of my control.

The only thing that I can hope for is that Hite will try and protect his own shares while remaining on the Board.

Hope it gets better rather than worse in the next month or so.

Cheers, knott

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