you are viewing a single comment's thread.view the rest of the posts
It sure does and I dont see continuing dividend to come close to $1.40. A lot of that first dividend came from IPO overflow money.
Be care care full and remember WHZ, IPO at $20 run up to $24+ and then down to $14+.
I just called the company and was told to check the sec statement of July 27th. .and she told me the next dividend would be .79 cents ,or 3.12 per year. Here is what the top of the sec statement says . We may not have sufficient available cash to pay any quarterly distribution on our units.
• The amount of our quarterly distributions, if any, will vary significantly both quarterly and annually and will be directly dependent on the performance of our business. Unlike most publicly traded partnerships, we will not have a minimum quarterly distribution or employ structures intended to consistently maintain or increase distributions over time.
• Restrictions in the agreements governing our indebtedness could limit our ability to make distributions to our unitholders.
• The price volatility of crude oil, other feedstocks, refined products and fuel and utility services may have a material adverse effect on our earnings, profitability, cash flows and liquidity, and our ability to make distributions to our unitholders.
"I just called the company and was told to check the sec statement of July 27th. .and she told me the next dividend would be .79 cents ,or 3.12 per year. Here is what the top of the sec statement says . We may not have sufficient available cash to pay any quarterly distribution on our units."
I wonder if she will still be working there after it comes out that she is giving this guidance. Just by the very nature of this company's revenues, how can they say what a dividend, announced in January/February of 2013, will be based on information available on 7-27-2012 .... they can't. They estimated that the 3rd quarter would be $1.01, and it was $1.48. Why? Cause the price of Brent was higher than expected. And note that the $1.48 was the profit for only two months, the two months that the stock was public, not a full three months. Ovicp says this is from "over-flow." Right, what is over-flow?
Well, we'll see soon enough, but note that Brent prices have remained high [and will continue to remain high] through today [up $0.25 again today]. As for the caution that they might not be able to pay a divy .... every company has to say stuff like that in SEC filings .... means nothing one way or the other.
"It sure does and I dont see continuing dividend to come close to $1.40. A lot of that first dividend came from IPO overflow money."
Not sure where you got that.
"Be care care full and remember WHZ, IPO at $20 run up to $24+ and then down to $14+."
This was not the IPO. Look at the PPS chart for NTI.
Supposedly 10.7 millionshares were "put up" by NTI.
The volume of today added with yesterday's is around 13.2 million shares traded.
Of course all of those shares traded were not all offered shares, but I think you're right Ray.
The offering has got to be close to being completely sold.
I guess I jumped the gun on my purchase.
It will be a very curious upcoming week/month for me starting Monday
The kicker being the next CC and dividend declaration.
Wishing you all well,
and hoping for the best,
WHZ is a royalty trust due to expire in 2015;there is no similarity to NTI which besides the refinery owns a Mn.pipeline,light and heavy products terminals,storage tanks,rail facilities and a Mississippi river dock.Also owns 166 convience stores and it's own bakery.
I did not say that is same as WHZ. If you go to company web site you will read a post dividend statement about IPO overflow as a part of first divy. And you can also read that they expect divy to be around 88 cents. I hope you didnt buy over 25.