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GNI vs. ETF Alternatives
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- Great Northern Iron Ore (GNI -43.2%) is cut nearly in half as Seeking Alpha contributor Night Heron says shares will fall to zero within 15 months.
- Buyers are being misled by stories highlighting GNI's 15% dividend yield, but GNI is a royalty trust that, according to its own website, will terminate - worthless - on April 5, 2015; only five quarterly dividends plus a final distribution will be paid prior to termination, the author writes.
- Remaining distributions will total ~$21; "it certainly doesn't make sense to pay any more than that," Night Heron says, yet shares are selling for $67.
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Thursday, Dec 272012, 12:45 PM
Monday, Oct 12012, 12:45 PM