RE:BREAK DOWN of DIVIDENDIts amazing how many amateurs we have here.
No its not just going quarterly. First off, this is an income trust not a stock. The purpose of INCOME trusts is income.
What they are doing is massively delaying any payout at all for 6 months. Thats no questions a complete and total abuse of the trust structure, public market structure and shareholders.
THey have elected that all shareholders will loan them their distributions, interest free and maybe .... just maybe ... you'll get a dividend half way thru the year. Of course much can happen in half a year.
Now, lets look even closer at the poorly worded news release. Why so confusing? Are they 8 year olds? No ... thats on purpose. Notice, nothing is actually firmly stated.
Here's whats going to happen. You get nothing until June, thats a certainty. So an income trust that pays no income. Hmmm, the trust structure is not favored as is by government. Something tells me they will have to convert to a regular dividen paying corp. Thats a lot of restructuring cost. But, even if that doesnt happen .. whats to say Crius doesnt tank in the next 6 months? We know their churn rate is a problem and always has been. We know the markets 10 year run is doomed to a massive correction and the longer it takes the worse it will be. We know that all other Crius like companies go bankrupt sooner or later. No one can point out a single public energy retailer that has not FAILED. I asked that before to crickets.
So, they did it to you guys again. They head faked you right before the news release and used your own money to do it. Not they dont have to pay out for half a year. By then, bankrupt. This is is just a delay tactic. THey dont intent to pay districutions and they dont intend to stay a public income trust. If they did, they wouldnt be breaking all the rules of an income trust status.
novascotian2014 wrote: Lets break down today's Announcement...the Frist Quarter dividend for Jan, Feb,March will be Recorded Date May 31st..( the last Business Day (May 31st) of the second calendar month following the end of the applicable (Frist Q) quarter...and Paid the 15th of the Next Month (June 15th) or Next Bussiness Day (the distribution of $0.209 per Unit for the first quarter of 2019 will be May 31, 2019 Record Day and June 17, 2019, Payment day respectively...THIS IS ONLY FOR THE "FRIST QUARTER PERIOD ONLY".. AFTER that it will be , any future quarterly distributions will normally be declared on or about the 15th day of the "NEXT" month immediately following the end of the applicable quarter distribution period....BY WHICH they will be SAVING 35 MILLION DOLLARS a year to support the sustainability of the distribution going forward..
So after all is Said and Done..we just Going from MONTHY PAYMENTS to QUARTERLY PAYMENTS, with GETTING THE SAME $$$ Dividends..