RE:RE:RE:RE:RE:RE:RE:Trading well below NAVmouserman wrote: mouserman wrote: oneup49 wrote: The question is..... whether the NAV has to be 15.10 for 2 months and then 15.23 for the 3rd month............or whether the NAV has to be 15.14 every month......... for the distribution to be paid !!!! I don't have the answer but maybe someone more knowledgeable does. Please clarify so we can move on !!
When Brompton figures the UNIT nav calculation on about the 20th of the month, if DGS is at or above 15.10 for the NAV the distributions will be paid.
Every month they prorate the preferreds payment , even tho its paid quarterly.
So i have DGS needing about a .25 gain in UNIT NAV to get to 15.10 in the next 7 trading sessions or so. NOT out of the realm of possibility.
OOPS pardon me , the UNIT NAV would have to include the monthly amount of preferred distribution on TOP of the commons distribution. SO UNIT NAV would have actually be about 15.15
Yes, That's the way I would interpret the way it's written, except the nav of the prefs will be higher by the time of declaration. so my way of thinking total nav would have to be 15.23 minimum. But if you need this info to be 100% certain, maybe give them a call to verify.