even though I explained it very clearly.
I'd prefer them to say they understand my point but that is the decision that has been taken.
I don't appreciate them acting like they don't get it at all. Seems dishonest and perhaps implies that other reports of aggressive financial practices by LINE should not be dismissed out of hand.
This case though is aimed directly at taking money out of long term investor (unitholder) pockets and I have made that point to LINE.
If LINE investors don't mind not getting a June Distribution they that's fine with me. The ones with double digit IQ,s figured it out early and sold there shares before the last ExDay. I may trade again after I see how the monthly Distribution works out .
There's a 61 day gap between the Q1 full quarterly distribution and the April monthly distribution - after that it's a month between monthly distributions. You're not missing a single distribution, the monthly distribution stream simply doesn't start for a month.
You miss a month's distribution as I explained in another thread.
The one you miss is not the June distribution, it is the last distribution when you sell.
The reason is that they used the switch to monthly distributions to hide the fact that they also moved the record/payable dates back from 45 days after the end of the quarter to 75 days after the end of the month. It does not impact new investors who buy after the transition, but long term existing unitholders lose one month worth of distributions at the time they sell their position.
LINE is taking advantage of the fact that most people are like you and don't look at the details closely.
could be you are right Liza and if they did I think this is more about reducing distributions paid out in 2013 than long-term trying to snake you out of a distribution. They want the payout ratio to make sense in 13 and they want to say they increased the distribution - they are assuming they will be fine in 14 when they will make 12 payments. having said that, congrats, i think you were right and I haven't read anywhere else that someone caught this. Now time to move on to a different subject
Amen. By switching my LNCO shares for LINE I picked upin profit the equivalent
of 1-1/4 year's dividends. I don;t want to hear any more of the missed divy talk. I do not care to have the same thing repeated over and over. Liz. You are a genious for detail. Did you trade LNCO shares for LINE? Ed
actually Liza I think you are making a mountain out of a mole hill. we got 3mounth dist in feb, and may (6ix mo worth) if they pay july, august, and sept at the old rate (.2416 per mo) and oct nov and dec at the increased rate of .2566 we will have gotten 12 months of dist totaling about 2.9448 for the year 2013. what month they act like it is paid FROM in not material to me, just the as long as they pay it,
at this point we can only hope the berry deal goes thru quickly in july so that they will increase the payout in the last 3 mounths
It's more the principal than the dollar amount.
The fact that they do this (effectively confiscate one month of distributions from long term investors by pushing back the record dates by a month), try to hide the fact in the confusion accompanying the switch to monthly distributions and then pretend they don't get it when I explain the case to them clearly by email, implies to me a lack of integrity in this company management. Again, I compare to VNR who did the same thing in a way that ensured existing investors are not disadvantaged.