I said NEXT 3 years. NOT LAST 3 YEARS.. And actually I'm figuring including the May 2016 payment and if the world doesn't end before that and the construction projects get completed on time and on budget.
. That would give us a $4.60 annual distribution and if the market values that $4.60 distribution to give a 5% return to unit holders we could have a $92 unit price for MWE units at or about that time.
If I am right that would give a buyer right now at the $61.60 MWE selling price a return of 69.97% return in 3 years which is not too shabby IMHO.
If MWE were to institute a monthly distribution plan, it would be an even greater wealth creating platform for long term unitholders. Management has always implemented wealth creating ideas to benefit the unitholders. They were the first company to recognise the benefits of eliminate the GP and the IDR's that sucked the life out of the LP. They saw the benefits that CPNO had and quickly incorporated them.
Monthly distributions are a growing method of rewarding long term shareholders and unitholders.
Realty Income Corp (O) has been successfully doing it for over 10 years. VNR and PSEC and others are doing it. In today's electronic era it shouldn't be too costly to implement., and in today's world a monthly income is desirable to seniors and other investors because we pay our bills monthly and not quarterly.
Management prides itself on being a "First Mover" and unitholder friendly
I know management monitors this message board and was wondering if they had discussed this subject and thought a good time to announce such a progressive plan would be discussed at the
Annual Meeting/Investor conference on May 29 in NY.