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Magellan Midstream Partners LP Message Board

factoids2002 2 posts  |  Last Activity: Nov 11, 2015 2:08 PM Member since: Dec 18, 2002
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  • Reply to

    NAV drop (much ado about nothing)

    by dadoos05 Nov 11, 2015 10:51 AM
    factoids2002 factoids2002 Nov 11, 2015 2:08 PM Flag

    The $0.53 in retained earnings is not money that is separate from the rest of the funds. Using that money will still deplete NAV.

  • Reply to

    NAV drop (much ado about nothing)

    by dadoos05 Nov 11, 2015 10:51 AM
    factoids2002 factoids2002 Nov 11, 2015 11:56 AM Flag

    I would not argue with a valuation assessment that leads to a buy at these prices. But I think the NII/share being below the dividend is a concern. PNNT also failed to sound committed to keeping the dividend at 28 cents while at the same time saying that it had plenty of retained earnings ($0.53/share) to pay a dividend in excess of NII. PNNT said they had the money - but they are going to do what is prudent. I like that about them. But I believe the price is falling because the $0.28/share/quarter dividend is on less than firm ground.

MMP
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