Eboli wrote:Dod noted:I am more interested in why they have brought forward part of the 2nd Interim to pay it this calendar year. Thinking about it is so as to deliberately reward the original shareholders as the ex div date is 29 October, before the new shareholders came on board. Bravo!
In one of the documents sent round to PLI shareholders I think it was suggested that because PLI were paying a special 13p dividend to represent the capital reserve value and that a similar exercise was being done for MUT shareholders effectively transferring to them 4.3p representing reserve values before MUT issued shares to PLI exes on 18/11.
Thanks. I missed that bit in the various circulars but it makes perfect sense to me. In any case the PLI shareholders have only just come on board. It does not matter in the least now but PLI shareholders were being rewarded with their accumulated revenue reserves, not capital reserves. Existing Murray Income shareholders are not getting anything extra, just that half of the second interim div is being brought forward so as to benefit them only. It is actually more beneficial to the Trust than it is for any of the shareholders, ie it is saving the trust money.
As I have repeatedly said, I think the main beneficiary from the Murray point of view is Aberdeen Asset Managers, the manager of the Trust.