You can't tell it by looking at PPS, and projecting a yield rate on top of it, for that matter, either.
They already did set their 4th Q '13 dividend, back in May.
Chimera Investment Corporation Sets Dividend for 3rd and 4th Quarter 2013;
Another 25 million shares today, 87 mil total for 3 days. Still not even 10% of the float, but. . . .haven't seen this kind of volume since Dec.'12/Jan.'13. Those dates make me still wonder if it's booking profits, or tax-related, but whatever the case, CIM's got a lot of attention these days. And it ain't no run-of-the-mill divvy run.
Doubt it's short covering, for only 9 cents of PIL. 61 million in volume last two days, only 16 mil short. Something else going on here. Maybe traders booking losses (or gains), planning to get back in after 30 days. Any other ideas?
Picked up a little today at 7.40, an addition to some core holdings, after waiting for it at 7.38 all morning. Then, of course, it dropped down to .35. haha. Hoping for a good bump, trade some of it out on the divvy run, hold the rest a while longer.
Liza, my question would be "Why sell so far out"?" Wouldn't it be more profitable to sell about 6 months out (getting past a bad quarter or two), and then roll/re-sell? If the distributions are increased dramatically between now and Jan. 2016, and since put prices reflect the estimated distributions, you could miss out on some good premiums. Of course, if the distributions are increased, then the underlying should go up in PPS, so your short LEAPs are safe(r). And, I guess you could always trade/sell shorter durations in and around the LEAPs position . . . just rambling out loud . . . .
"$330MM in inventory" -- that's a lot of donuts!
Saw someone else mentioned on this board only $5MM in inventory, as part of the buyout. That's quite a difference. No doubt there's a big write-off/write-down in the math somewhere for TPG-Acon.
Getting out from under those "earnout and margin support components" is also no doubt beneficial to them. Would guess that they're carried over to the new GPs, right? Wonder if that's being factored in to the WNR share price jump. . .
If there's a change in the MLP structure, I'm sure the yield-chasers would look for a chance to jump off, since WNR's 2.7% yield pales in comparison to the 15-20% range NTI was hovering at for some time.
Correction: "(plus .31 distribution)" should have been "(.31 distribution aside)".
Based on the 19.42 per share valuation (plus.31 distribution), WNR then would have paid an additional $83MM for the GP interest, or about 90 cents a unit for the controlling/managing interest in a (Yahoo numbers) 2.2 billion dollar company (market cap), with 4.4 billion in revenue, adding almost 40% more annual revenue. Granted, last quarter's numbers were rather dismal, but it's no wonder WNR's up around 8% today.
They've already more than tripled that with the increase in unit price since the valuation was set, though TPG-Akon shouldn't be feeling like they left money on the table, since they probably had a sense of the upcoming numbers, and they made a good return on their initial $600MM investment., with previous unit sales and today's buyout.
Just hope WNR keeps NTI unitholders' interest in mind, as they seek alignment for their new acquisition. (Any thoughts on whether a tender for outstanding NTI units with WNR shares would be possible, and how it might play out?)
Does Genesis own the train and or railroad? I thought they only owned the destination terminal and pipeline.
I believe they were considering the addition of 187,500,000 shares at $1 par value, as per documents on their website, an excerpt below:
"(d) subject to and forthwith upon the Capital Reduction taking effect, the authorised share capital of the
Company, reduced to US$125,000,000 thereby, shall be restored to US$312,500,000 by the creation of
187,500,000 ordinary shares, of par value US$1.00 each; and"
Block KG-OSN-2001/3, Part-VI: 34 bids quoted gas prices above $8.5/mmbtu
April 21: GSPC, the operator of the Deen Dayal West (DDW) field, in the KG-OSN-2001/3 block has said that it has received a favorable response to the E-auction conducted with as many as 34 bids eliciting a gas price of over $8.5/mmbtu.
The total gas bid for is a whopping 35.96 mmscmd whereas the total available gas is only about 5.24 mmscmd.
8GSPC claims that the oversubscription of the available gas indicates that consumers across industrial are willing to pay the price discovered through the formula proposed by the consortium.
8The company in a bid to convince the petroleum ministry for approval of the proposed formula, said that it will be a win-win situation for all the parties; the government, the contractor and the consumers.
The following benefits were detailed:
--Maximization of Profit Petroleum, royalty and taxes to the government
--Send a clear signal to investors that adequate return will be available for investments made in the E&P sector
--Promote the use of clean fuel while staying competitively priced in comparison to LNG prices
(Click on Details for more information) Details
I think you mean "less than transparent". Their shareholding structure of limited partnerships and holding companies and US and Global is very opaque!
"Fully diluted" would include all the DRIP shares, shelf registration shares, and convertible notes, I would guess. But, in the process of issuing and/or converting those, there would be cash coming into the coffers and/or debt being reduced from the balance sheet, I would imagine.
I think what matters here short term is the current outstanding shares, both Class A (general public) and Class B (insider shares with higher voting rights), but I'm certainly open to more input on this.