RE:RE:SIB is similar .... I ask "whay the shre consolidation?" as well.
I see no rhyme or reason for it except that is would limit the future DIV payout to 5.75 less times the payout.
I've been with TNT a long time (relative to my other REITS and stocks) and I have a huge amouont invested here. I believed in TNT fundamentals and management up until this NR.
Unfortunately for me, I have large TNT holdings across 2 TFSA accounts and each account paid over $5 SP average.
If this 5.75 consolidation happens, that means for me to break even again, the SP will need to be close to $30 SP. That's clearly not going to happen in my lifetime, so I'm never going to recover my original SP if they do this consolidation.
I also hold a much smaller amount of INO.
I don't care about DIV's going to 0, I don't care about the SP diving to these levels because the markets will eventually recover that, I care about this recovering before I retire in 4+ years.
I haven't purchased new TNT since January and I'll never buy REITS again. I won't sell because that's how I am and nothing will change that - not even going to 0, but I'm done contributing to a company that would dilute my shares by 5.75 times.
INO took a massive hit, but at least they're not planning to do this consolidation B.S. at these levels (yet).
I'm not out, but definately not a fan anymore.