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"Enbridge Income Fund Holdings Inc is engaged in the generation, transportation and storage of energy through its green power generation facilities, liquids transportation and storage facilities."

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Enbridge Income Fund Holdings Inc. > Why The Low Close Today at $31.88??

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Post by lastpick on Nov 09, 2018 7:31pm

Why The Low Close Today at $31.88??

Should have been $32.41 based on ENB close! RBC, among others took it down near end of trading?

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Comment by TickerTwit on Nov 09, 2018 9:34pm

32.91 actually (the Dec/1 payout is capital for ENF converts, not dividend; ENF shares already have their dividends on record for the quarter) ... yeah, quite a discount now that the buyout is locked in ... over 3%. .

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Comment by cttglvr on Nov 09, 2018 9:45pm

Do you have any idea of why the massive volume the last few minutes like ENF and ENB? Average ENB daily volume listed as 5 million shares on my RBC trading site while today it was 13.6 million shares with about 8 million right at the end of the day. It didn't seem to affect the ENB share price at the close.

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Comment by gleninagh on Nov 10, 2018 9:57am

Does it really matter?... ENF was officially disolved on Nov/09/2018. So i guess whatever shares you/we had wil be converted to ENB shares at the rate of .735 per share.And getting the ENB dividend in Dec basically offsets any loss of capital in the exchange.

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Comment by cttglvr on Nov 09, 2018 9:34pm

I'm not sure if I'm right but I believe ENF owners as of Nov 8 close got the extra .45 cent dividend from Enbridge as part of the takeover. If you bought ENF today you wouldn't get that .45 cents. Usually a stock will drop by the amount of the dividend after the dividend declaration date but I don't know why it traded well all day with massive volume the last few minutes only ...more

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Comment by TickerTwit on Nov 10, 2018 4:22pm

In the MIC, page 59, the last paragraph seems to make clear that we are entitled to the .45 no matter when a shareholder (or broker) tenders shares (subject to a 3-year time limit, mentioned elsewhere in the MIC). Receiving the Dec/1 dividend requires us to be on record as of Nov/15. If ENF continues to trade on the TSX I don't see why we couldn't buy new shares and still qualify for the ...more

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Comment by gleninagh on Nov 10, 2018 5:30pm

From what i can see, ENF no longer exists, effective Nov/09, when it was desolved by public record. A search of TSE companies does nor show ENF as a listed compny anymore. I believe i will be happy to take my ENB shares ( at a slight gain over the value of ENF) plus my cash, plus 2 dividends. Plus ENB is planning on increasing its dividend rate by 10% effective Jan/01/19. Makes for a good ...more

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