ECA Marcellus Trust I Announces Secondary Public Offering Of 2,525,000 Common Units
ECA Marcellus Trust I (NYSE:ECT) announced on April 15, 2011 the
completion of a secondary offering by Energy Corporation of America
(ECA) of 2,525,000 of common units representing beneficial interests in
ECT in an...
ECA Marcellus Trust I (NYSE:ECT) announced on April 15, 2011 the completion of a secondary offering by Energy Corporation of America (ECA) of 2,525,000 of common units representing beneficial interests in ECT in an underwritten public offering. ECA has granted the underwriters a 30-day option to purchase up to 360,723 additional common units. ECT did not receive any of the proceeds from the offering. The Trust was formed by ECA to own royalty interests in natural gas properties owned by ECA in the Marcellus Shale formation in Greene County, Pennsylvania, and is entitled to receive certain amounts of the proceeds attributable to ECA’s interest in the sale of production from the properties. A registration statement relating to these securities was declared effective on April 8, 2011, by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Citi acted as sole book-running manager for the offering. This offering of common units was made only by means of a prospectus, copies of which may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Dept., or by calling (877) 858-5407 or by emailing BATProspectusdept@citi.com. An electronic copy of the prospectus and prospectus supplement is available from the U.S. Securities and Exchange Commission’s website at www.sec.gov.
Looking at the universe of stocks we cover at Dividend Channel, on 2/18/15, ECA Marcellus Trust I will trade ex-dividend, for its quarterly dividend of $0.18, payable on 2/27/15. As a percentage of ECT's recent stock price of $4.69, this dividend works out to approximately 3.84%, so look for shares of ECA Marcellus Trust I to trade 3.84% lower — all else being equal — when ECT shares open for trading on 2/18/15.