Distribution PolicyFor everyone's benefit, the following was extracted from the latest Annual Information Form:
No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) in respect of a cash distribution, after the payment of a cash distribution by the Company, the NAV per Unit would be less than $15.00.
The dividends accrued and therefore owing to both classes of shares would need to be accounted for in determining the accurate NAV per Unit post-distribution, and these potential distributions must not result in a violation of the $15.00 minimum NAV threshold.
Perhaps others here may have a different interpretation, but in any case, there appears no reason to believe Brompton is restricted to using Thursday's NAV calculation when declaring dividends.