RE:RE:RE:The numbers are getting better here.Hockeynut2 wrote: I was surprised to read your post about a special dividend and then a cut. Is that speculation on your part or have they announced something?
They haven't announced the amount of a special distribution or cut yet, but in their
latest news releaseit states that
The Board currently anticipates that it will reduce the ongoing monthly cash distributions of the REIT following the special distribution. The reduction would be roughly in proportion to the amount of the special distribution and would reflect the smaller size of the REIT.
Regarding the special distribution, it states
The REIT’s Board of Trustees has considered various alternatives for the cash proceeds and has concluded that a special cash distribution to all of the unitholders of a portion of the net cash proceeds is most appropriate and in the best interests of all unitholders. The Board will meet after the closing of the sale of the 9 Western Canada properties and decide on the amount of the special cash distribution based upon, among other things, the ongoing cash requirements of the REIT.
Closing is expected on October 22, so we won't have specifics until after that time.
"Hockeynut2" wrote: PS: Not that it means much, but Morningstar has an estimate of fair value on this at $3.35. I'm not sure what the actual NAV is.
The NAV as stated on Partners website is $3.86. Of course, this will depend on what one values the properties at.