I looking at a buy in price around $15.00. This trust is not as strong as the rest of the field. Look! the wells need to be drilled over 11,000 feet deep in hard rock. I am passing until it goes lower. Dividends of 45 cents means a lower stock price. Granny knows best!
That was from a much earlier version of the S-1 when CHKR was expected to IPO earlier (during Q3). Since it didn't even IPO till mid Q4, the distribution timings (and amounts) were revised.
The $1.06 target was for Q3 and Q4. Clearly they can't distribute Q4 income at end of December.
So either they distribute a larger amount in Feb 2012 which covers both Q3 and Q4 (that was the way SDT and PER did it), or Q3 will be distributed in December and Q4 in February.
Either way the total of the Q3/Q4 distributions is targeted to be in the range you quoted. If they do the Q3 distribution separately it is targeted to be around 0.54.
The first distribution, which will cover the third quarter of 2011, is expected to be
made on or about December 28, 2011 to record unitholders on or about December 15, 2011. Due to the timing of the payment of production proceeds to
the trust, the trust expects that the first distribution will include royalties attributable to sales of oil, natural gas liquids and natural gas for two months
(July and August 2011). Thereafter, quarterly distributions will generally include royalties attributable to sales of oil, natural gas liquids and natural gas
for three months, including the first two months of the quarter just ended and the last month of the quarter prior to that one. From the S-3/A ,must be from the ipo being delayed.
Here it is:
"The first distribution, which will cover the third quarter of 2011, is expected to be made on or about December 28, 2011 to record unitholders on or about December 15, 2011."
That is Target Distributions section, bottom of page 52 of the S-1. Keep in mind that the S-1 was amended multiple times.