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Bullboard - Stock Discussion Forum Tidewater Midstream and Infrastructure Ltd T.TWM

Alternate Symbol(s):  TWMIF | T.TWM.DB.A

Tidewater Midstream and Infrastructure Ltd. is a diversified midstream and infrastructure company with an integrated value chain across North American natural gas, natural gas liquids (NGLs), crude oil, refined product, and renewable energy markets. The Company's operations include downstream facilities, natural gas processing facilities, NGLs infrastructure, pipelines, storage, and various... see more

TSX:TWM - Post Discussion

Tidewater Midstream and Infrastructure Ltd > Timing of Pipestone Sale Closing
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Post by TVR on Nov 17, 2023 1:26pm

Timing of Pipestone Sale Closing

The closing date for TWM's sale to Altagas  (ALA) of the Pipestone facility will be interesting.  ALA's next quarterly dividend payment date is December 15.  If the deal has closed by then TWM will very quickly collect a divident  payment of almost $3.5 million (around 12.46 million shares at 0.28c) payable at end December.  In addition the share price today is around $27.50 or approx $1.40 above the $26.07 pricing of the ALA shares in the deal, amounting to an additional $17.5 million value if the shares are sold at today's price. 

TWM has not been very forthcoming on its plans for the ALA shares, but I assume they will not hold them for long.  In any event, if the ALA share price holds up at today's level through December and the deal closes before mid-December TWM should collect close to $20 million over the announced deal value. 
Comment by pierrelebel on Nov 17, 2023 4:25pm
"... I assume they will not hold them for long." Maybe they should hold the shares for a while and write call options against their position, earning an extra 6% to 10% a year in addition to the 4% dividend yield.
Comment by Ogopogo26 on Nov 17, 2023 6:24pm
I don't think this will happen and it would be a bad idea. It's not the job of TWM to speculate. If you want ALA exposure, you can buy the shares yourself.