Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

NYSE:PTA - Post by User

Cohen & Steers Tax-Adv Pref Secs and Inc Fund > EV Question

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Comment by mrpanickon Oct 08, 2014 7:49pm

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Post# 23012549

RE:EV Question

5i5, At least report PTA had 64 mil US in cash and 32 mi US (35 mi Canadian) in debt. So net cash is about 32 mil, which I just rounded down to 30 mil. If you want to nitpick at the numbers I would say 32 mil is really too low for net cash. I don't believe that includes restricted cash which is still cash. Also their receivables from oil that's already been sold are practically as good as cash. But to keep things simple I kept net cash at 30 mil. Not sure where you'd get 73 mil debt from? Note that all the Suroco debt was paid off by PTA at closing.

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