Dividend 15 Split Corp II T.DF

Assuming no pref tendered and lots of common

[pennydredful]

They   may  have  to split  the common  so   #   of both   out  equal  plus  they  may  have   to  eliminate  the   common   dividend   for awhile   to  bring   the  leverage   ratio  back   in line  ---a feature   designed   to  protect  the   preferred   .   Eventually   as   dividends  are  retained  the  common   dividend   can  be   restored  .  Only   a possibllity  .  Can   anyone  post   the  official  closing  NOV   29th    NAV ?

[mkqtrader]

@pennydredful The official Nov 29 NAV will be posted by Quadravest as soon as they have done their homework, probably aroung Dec 4. Regarding the redemption matter, I believe that Quadravest is not obliged to fulfill all common shares tendered for redemption, most probably they are going to process only the number needed to rebalance the number of common shares to the number of preferred shares

[mkqtrader]

I needede to proofread my post... I had a few typing mishaps, sorry! However, I believe that my concepts were clear even with those errors

[NoShoesNoShirt]

I hope you're right MKQ.

[navgod]

!st this not an annual retraction but a Special  Retraction Right that comes with the  extension  every five years. 2nd  Quadravest is obligated to redeem all shares submitted for retraction. 3rd  don't know what companies redemption you have been submitting to but I really don't believe they were spitshares 4th the only science fiction is your post ... just my two

[pennydredful]

perhaps  the  way  it  would  work   as   an example    only.   They   would  redeem  50%  now.  and   the  rest   later   when   able   to   do   so.  In   the  meanwhile   the  tendering 

[navgod]

Sorry that is not how it would work. There is enough liquidity in all the holdings of the quadravest funds that given notice they received there is no excuse not honour the retraction requirement in full and on time.

[pennydredful]

True re  the  liquidity  of  their   holdings   :   however   from  the  pref  prospective  they   must  keep  a defined  balance  of  pref   equity  and   common   equity  .  They   could   rebuilt    common

[mouserman]

On oct 30 the discount was actually about 12 cents , hardly worth the effort of retracting. Luckily for those who did, this  current pullback waited until early december to come about.. or it WOULD have been a losing proposition most likely.. I checked Stockwatch and the last OS share counts showed the preferreds having about 580K more shares out than the Commons.. SO not sure how that will

[pennydredful]

There  is  no  doubt  retracting  unit holders  benefited   from  a rising  market   in   November  , however   should that   trend  continue   they   may   regret their choice.  

[navgod]

Oh my god how will I ever replace those shares I am receiving $7.11 for when the current sp is $6.49? -- somehow I think I will manage.

[FatTraderDude01]

Navgod. Is this what happened to FTN years ago when, I think, it did a 4:1 reverse split.....  I'm still trying to wrap my brain around that one The Common SP went up so Dibs were paid but capital was squeezed Thanks in advance! FTD

[navgod]

Similiar in that It was a special retraction right related to the FTN fund extension however it was the pref shares FTN.pr.a that were retracted and the FTN capital shares had the reverse split. In FFN's case and for that matter all the quadravest funds being extended it is the capital  shares being retracted. In the FTN case it was very painful for investors because the capital shares

[navgod]

Forgot this was the DF board -- the comments are still valid for DF

[rainman123]

Could someone please explain the retraction in lamens terms and the possible effect on the Class A and/or Preferred shares after the retraction?

[pennydredful]

Get  lost  troll man