Chenavari Toro Share Price (TORO)

I would see it as you wont receive any "special dividends" had there been excess cash - instead it would be re-invested.

Am not sure. I read it positively as a potential return enhancing policy but then again, the exact opposition interpretation is possible. Share price has been quite positive the last few months however.

I note the latest dividend rns of 0.0162

Also noted the following footnote in the same rns, under the title 'Diviidend policy update':

"The Company continues to rebalance its portfolio towards tradable securities and has been able to make attractive investments within the Public ABS and CLO sector as opportunities arise within the market. To that effect, the Company plans to remove the previously announced cap on maximum cash balance, so the portfolio manager can have more flexibility to continue to re-invest based on prevailing market conditions, with excess cash being reinvested."

Not sure what to make of this....but do feel they are flagging expectations of lower divvys, in the short term to maintain/grow future yielding opportunities.

Canetoad; you make a fair point, and one that I consider with ALL stocks that have a large concentrated holding. It is a possibility, but actually FAIR has a concentrated (concert?l holding too. With the exception of BGLF which has the least concentrated and most diverse (mainstream) shareholders, I think it's part and parcel of this arena.

Most of these stocks to my mind are set up for primarily for high net worth individuals/family trusts etc, pursuing tax efficient income through the long term and the likes of you and me are merely riding the coat tails of that expertise/oppurtunity. So yes they could low ball us, but the counter balance is what is the incentive when the mandate (high income) is continually delivered and to buy out would merely concentrate their risk?

What advantage is there to the concentrated holders over the status quo? To capture the NAV discount? Well they could do that by using the Company's own money (aka the FAIR way) rather than using their own money.

Yes, it's a risk, and an important consideration, in a number of stocks in this arena. Personally I don't see it

I've spent some time looking at TORO vs FAIR. The possibility of a mandatory low-ball offer is what worries me about TORO. There's nothing that could be done if that happened? That looks far less likely for FAIR.