Glad I purchased at $25.50 two weeks ago. I imagine the price reaches $35 when they pay out the first dividend after the quarter. Once the dividend starts showing up in newsletters and and screens for yield and the MLP sites, CVRR should attract a great deal more attention. I looking forward to the quarterly distribution which will be 100% larger than my Linn Energy distribution.
"...announced that its Board of Directors has approved the regular quarterly cash dividend of $0.04 per share. The dividend is payable on March 15, 2013, to stockholders of record at the close of business on March 1, 2013.
Alon also announced plans to release its fourth quarter and year-end 2012 financial results on Wednesday, March 6, 2013 after the market closes. In conjunction with the release, Alon has scheduled a conference call, which will be broadcast live over the Internet on Thursday, March 7, 2013 at 11:30 a.m. eastern time (10:30 a.m. central time)."
i think i am goin in on linn but cvrr first payment is goin to include an additional 3% for the oversold units. also it looks like all of the refiners are kickin but so i believe the payout is goin to be a shocker. do a litle readin into the ipo paperwork and i think you ll probly be very surprised. so happy investing
right, the estimated yield at IPO (when price was 25) was 19%. if price hits 35 then the yield will be ~13.6% which is close to appropriate, I'd guess, as the yield should be higher to compensate for the added risk the variable payout structure entails?
You are correct on the variable payout, but this is more than two refineries. Icahn basically controls CVI and CVRR owning 80+ of both. I assume he will try to grow the two rather than let the share price stagnate. He is quite greedy and I do not see him sitting on the equity of these two entities for the next 24 months without attempting to improve price which means he has to grow the entities.