Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.PR.A

Special distribution

[Benson55]

Can anyone advise me if this will be paid on Jan 13th as cash or more units?

Thanks

[Gord_Alberta]

I have been reading / speaking English for 65 years; and I can not figure out the news release. We get more than four months of dividends as a special distribution. Which automatically gets reinvested by me in the DRIP program. Yet EIT consolidates the units so the total number of units does not change. Is this magical accounting?  

[LosingHope]

This is a poorly written NR.  It does indicates it will be paid out in extra units (see underlined below).  In my case I have EIT.UN, so on January 13 I'll receive additional units of EIT.UN instead of cash. I don't have a clue what the last part of this paragraph is indicating.  I think it should read "the number of outstanding units will not change", not

[Golferman]

Yes.... Very difficult to undersatnd I called HR and what is going to happen is you will receive a T3 for the gains...... and your addjusted cost base for your units in your account will be reduced by the amount of distribution.... maybe .44  This distribution is of no advantage to a share holder just the company...... Sold my position I don't want the tax implications.

[Benson55]

Thanks for that. I hold only in my TFSA so it amounts to nothing really for the likes of me and many others. Its very confusing.

[bcsc]

Its unfortunate that you don't want the tax implications since they are to your benefit' that is it increases your adjusted cost base' hence reducing your capital gain.  Either you misunderstood or were misled by the individual you called.  (Next time you might want to call IR not HR) Think of it this way, they give you a distribution of 44 cents a share, you give it back to

[Bubba359]

So BSCS , you figure everyone on this and other boards are all multiillionaires with most in outside accounts. If you do you need to get over yourself and stop acting like some superior know-it-all. My Granddaughters have about 800,shares in their investment accounts , they are 8 and 6 years old .my  2kids have another 5500 shares in both Rrsps and TfSAs, and l the least wealthy of both of

[SusanBolland]

  Sounds like your parents have a lot to be proud of there Trevor "Bubba" Plows

[Scarlada1]

This post has been removed in accordance with Community Policy

[Lisagerrard17]

[Scarlada1]

This post has been removed in accordance with Community Policy

[GassXX]

sounds like you have a lot to be proud of there Trevor Plows

[Joe455]

Trevor, you don't like stockhouse and stockhouse doesn't like you so please do everyone a favor and piss off.