Yellow Pages Income Fund (TSX: YLO:UN) is blaming the Canadian Government for not increasing their distribution despite huge increases in profits. They claim that the uncertainty over tax treatment requires them to hold back investors money. The income fund with well over 100,000 unit holders has been very vocal in their opposition to any tax changes. But the cash is there so why not distribute it before the tax laws change. Yellow has just completed some rather large acquisitions. Could the executives want some "surprise insurance" so that they can skate their way through problems in the future. Yellow Pages is beating the tax drum very loudly.
Caveat Emptor