RE:RE:RE:RE:PatienceThey issued these receipts ($31 per receipt) to raise money to buy WGL holdings.
The money is held in trust. If deal goes through you get a share for each receipt. If deal does not get through you get paid $31 for every receipt. Till either scenario plays out, you get monthly dividend for receipts also. As of now I am biased towards receipts as these are trading lower than shares. It may be a good idea to wait and be sure about the bottom price. If it goes up a few cents, it would still be cheap as yield is over 7.7%.
It did not go down $.1825 on ex divi date which means it is quite close to bottom.
You may like to go through their presentaion and last one year's comments by analysts on www.stockchase.com.