Integrated oil companies liquidating trusts 50yrs womanmasterbate
SHARES of some second-tier oil companies have surged during the battle to acquire Conoco.
Integrated oil companies liquidating trusts
Trusts that distribute virtually all of their income to shareholders do not pay taxes at the trust level.
Thus, the trust device has - or at least appears to have - eliminated what is referred to in investor circles as the double tax on dividends.
In 1980, Southland Royalty followed with a spinoff of two such entities, the San Juan Basin Trust comprising properties in New Mexico and the Permian Basin Trust with West Texas properties.
Last April, when Tenneco took over Houston Oil and Gas, it followed form with a Houston Oil Trust spinoff made up of assets accounting for 75 percent of Houston's domestic income.
Cities and Conoco had announced earlier that they had engaged in merger discussions, and Cities' withdrawal prompted a Wall Street wag to call the company, ''The Yellow Knight.'' It may well be that one or more of the second-tier companies will become takeover targets.