The recent infusion of riches doesn’t seem to have improved BAM Split’s ability to service its preferred shareholders to any great extent.
I have estimated that the ex-date of the current dividend should be tomorrow, August 20, but it has still not been declared.
The company has made something of a fetish of forgetting to declare dividends and at one point declared dividends on some, but not all, of their issues outstanding
I have sent an inquiry to the company at ir@brookfield.com. Readers may also wish to contact BAM Investments and ask why a company they control is so screwed up.
BAM Split Corp. has the following preferred issues outstanding: BNA.PR.B, BNA.PR.C & BNA.PR.D. All are tracked by HIMIPref™.
Update, 2009-8-20: The TSX is now reporting that the ex-Dividend date for the current distribution was yesterday, August 19.
Yesterday, of course, they were reporting only the last ex-Date, 2009-5-20.
Anybody who bought yesterday in expectation of receiving the current distribution has cause for complaint to the company – it won’t get you very far, mind you, but you can complain.
Update, 2009-08-21: I have received a communication from BNA claiming that the dividends were declared in May and included a dividend payable on BNA.PR.A, which has been redeemed.
I have responded seeking clarification regarding the dividend payable on the redeemed security, and asking why the TSX is reporting a declaration date of 8/18.