14% Income Fund Goes Ex-Dividend

by Travis Johnson, Stock Gumshoe | March 12, 2010 1:56 pm

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Source URL: https://www.stockgumshoe.com/2010/03/14-income-fund-goes-ex-dividend/


11 responses to “14% Income Fund Goes Ex-Dividend”

  1. GiseleHannigan says:

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  2. taejonkwando says:

    YLO.UN has already announced a reduction in dividend payments when they convert to a corporation later this year. Surprisingly the units have gone up nicely since the announcement. I guess uncertainty isn’t appreciated by the market.

    $0.80 annual distribution to be maintained until December 2010
    Starting in January 2011, initial dividend set at $0.65 per year to be paid monthly
    Conversion to take place by the end of 2010, subject to unitholders’ vote
    Dividend policy intended to provide shareholders a sustainable source of income
    Montreal (Quebec), February 11, 2010 – Yellow Pages Income Fund (TSX: YLO.UN) announced details on its path to conversion from an income trust to a traditional corporate structure (the “Conversion”). In light of past legislative changes to the business income trust market, the Conversion is expected to provide a more attractive environment for YPG’s securities while broadening the potential investor base.

    Dividend Policy Post Conversion
    The Company will continue to distribute $0.80 annually until December 2010. YPG’s Board of Trustees has approved the dividend policy post conversion. Commencing with the January 31, 2011 dividend (record date), the dividend policy will initially be set at $0.0542 per share on a monthly basis or $0.65 annually. This level of dividend is consistent with the preliminary dividend policy communicated last May and reflects a payout ratio of 60% to 70% of cash earnings per share. Please refer to Exhibit 1 below for detailed monthly payments.

  3. brenda says:

    Thanks Patrick, should have double checked whether they’d already planned the cut — good point. This doesn’t bother me as a basic strategy, and I’ve focused before on a trust that’s done something similar (AltaGas and their planned cut later this year), since clearly investors do like the removal of uncertainty. But frankly, even with that near-20% cut in the dividend I’m pretty uncertain about their ability to keep paying it for the next ten years or more — or growing it.

  4. MultikFilm says:

    What’s all the hype about Greenland ?

  5. camross says:

    Stock is trading at a 33.82% premium to NAV crazy stay away from this!!!

    Historical data shows this should correct. I heard some say never pay above NAV (discount 10% is best) and in any case never buy at 34% NAV. Just to correct to NAV you could lose 34% of the stock value.
    http://www.cefconnect.com/Details/Summary.aspx?ticker=AOD

  6. jetakesue says:

    Hey Travis

    Agoura is hyping another stock. While I am a subscriber to many of their services, there’s one called…
    “———————

    “How I Uncovered a $102,700 Gold Secret, Fixing a Famous Millionaire’s Computer”

    Can you “Gumshoe” this for us please?
    Thanks

  7. lindsey says:

    I’d like to know about the “$59” computer Phase 1 Investor is pushing

  8. mikebell says:

    If you want that kind of income you are better off with Chimera (CIM)

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