Here's an interesting one.
NAL Energy (NAE) is getting taken out by Pengrowth (PGH) in a deal where NAL shareholders get 0.86 shares of PGH for each NAE share. If the deal proceeds as outlined, NAL shareholders will end up with a
20% dividend increase.
The proposed business combination is expected to be accretive upon closing to Pengrowth shareholders on a funds from operation and production per share basis, and also provides NAL shareholders with a 20.4% increase in monthly dividends per share, an increase in reserves per share and exposure to a company with a longer reserve life index.
Say you owned 1000 shares of NAE. At 60 cents a share per year, that's $600 in annual dividends. After the deal, you'll own 860 shares of PGH, which pays a dividend of 84 cents a year. 860 x 0.84 = 722.4!
Marvelous

! Until PGH cuts the dividend after it realizes it cannot sustain the greatly increased debt load
