OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Oct 10, 2021 10:36am
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Post# 33993210
RE:Lost Divy
RE:Lost Divy
alkhor wrote: I put in a complaint to the ASC as ther new Board of Directors decided to cancel the dividend, This new board are four Brookfield appointees and three old board members, Clearly it is a conflict of interest as cancelling the Dividend favours Brookfield. Board members are supposed to look after the interest of all shareholders. When they pull (word deleted) like this, it is obvious the shareholders be damned as long as Brookfield benefits.
Nothing like an uniformed investor filing a ridiculous claim and wasting the time of the ASC. The dividend was not canceled - it was suspended. Every month the IPL board would vote to declare a dividend - after Brookfield acquired control, the reconstituted board decided not to declare any further dividends. With regards to the change in board members, this is the process followed in all takeovers - nothing unusual. In any event, after October 28, you will no longer be a shareholder of IPL.