Post by
AnEducator on Jul 19, 2023 4:54pm
NAV July 19
~$15.06. Premium on capital shares: ~$0.07.
We are only ~0.26% away from the $15.10 payment threshold, with a single day in which to get it done. I wouldn't bet against it happening. It is possible Brompton could wait an extra day to determine dividend eligibility.
Comment by
JohnWalker on Jul 19, 2023 7:54pm
NAV of Preferred Shares will be adjusted up by 1¢ tommorrow so the market only needs to increase Class A Shares by 3¢. Another day like today should alow us to just squeak by. I'm crossing my fingers, toes, and and every other body part I can think of.
Comment by
JohnWalker on Jul 19, 2023 7:59pm
"It is possible Brompton could wait an extra day to determine dividend eligibility." I don't think Brompton is like Quadravest and willing to finegle the numbers. Besides they are out of time, they must announce distributions on Friday the 21st.
Comment by
Intellectual on Jul 19, 2023 9:35pm
Since they are expected to declare their dividends after the close on Friday, could they not simply calculate the NAV before their announcement? You are absolutely correct in that Brompton operates very differently from Quadravest, so it doesn't seem likely they would take that route.
Comment by
JohnWalker on Jul 19, 2023 9:42pm
They usually make the announcement right around the noon hour, not on Friday after the market close. So if they stay true to form they are forced to use the NAV at close of Thursday which is their regular weekly time for calculating NAV. NAV should be updated on the website on Friday morning, so the actual announcement, regardless of when it comes, will be an afterthought.
Comment by
marketsense on Jul 19, 2023 11:46pm
All we can hope for is another good day for the TSX. Banking and oils looking pretty good at the moment. Would be a shame to miss out on the div for just a few cents below threshold NAV. Like watching a playoff game with your team down by a goal going into the last few minutes of the 3rd period.