02-14-2014, 09:43 PM
Sold it in my wife's IRA today.
The more I looked at it, the more I didn't think it would be worth hanging in there for the VZ purchase and distribution.
Don't really want VZ in her portfolio because of the additional debt VZ was taking on. We only had 55 shares and, with the reverse split, we would have few ADRs afterwards either necessitating purchasing more to be a significant holding or getting rid of the few ADRs we had left. The cash infusion would've been nice.
We'll wait until the dust settles before I decide what to do next. She already has Telus (TU) so she does have some telecom exposure with a 4% yield.
The transaction proxy was a bear to read through and understand and I'm still not sure of what management was planning to do.
The more I looked at it, the more I didn't think it would be worth hanging in there for the VZ purchase and distribution.
Don't really want VZ in her portfolio because of the additional debt VZ was taking on. We only had 55 shares and, with the reverse split, we would have few ADRs afterwards either necessitating purchasing more to be a significant holding or getting rid of the few ADRs we had left. The cash infusion would've been nice.
We'll wait until the dust settles before I decide what to do next. She already has Telus (TU) so she does have some telecom exposure with a 4% yield.
The transaction proxy was a bear to read through and understand and I'm still not sure of what management was planning to do.
=====
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan
“While the dividend itself is merely a rearrangement of equity, over time it's more like owning an apple tree. The tree grows the apples back again and again and again, and the theoretical value of the tree doesn't change just because of when the apples are about to fall.” - earthtodan