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Crexus Investment Corp. Message Board

  • mullalarmbereitschaft mullalarmbereitschaft Nov 12, 2012 2:19 PM Flag

    One more Div or not?

    Is the co obligated to pay another div before the deal closes on the regularly scheduled date? (say, 12/27)
    Or can they avoid it under deal terms or because of a deal

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    • It looks to me like the deal won't be closing for a while, so I would expect dividends to continue until it does. Then there may be a small special dividend at the time the deal is done to cover earnings since the last regular dividend. I had thought that the deal would close soon after the end of the year, but with the recent announcement that they were hiring Lazard as an independent advisor, it looks like it'll take a while longer. Meanwhile, they should be operating as if there will be no deal. We should hear an announcement regarding the dividend by about the 20th.

    • Dividends
      To qualify as a REIT, "we must pay annual dividends to our stockholders of at least 90% of our taxable income". We intend to pay regular quarterly dividends to our stockholders. Before we pay
      any dividend, whether for U.S. federal income tax purposes or otherwise, which would only be paid out of available cash to the extent permitted under our warehouse and repurchase facilities, we must
      first meet both our operating requirements and scheduled debt service on our warehouse lines and other debt payable.