SALT LAKE CITY, Sep 23, 2005 (BUSINESS WIRE) -- PrimeHoldings.com Inc. (Pink Sheets: PMHJ), a diversified holding company with early-mover initiatives in the telecommunications and proprietary restaurant and hospitality industries and Target Communications, LLC, its joint venture partner, today announced that the company is planning to issue a 10% stock dividend to its shareholders.
The dividend plan will be filed with Nasdaq to determine the ex-dividend date and eligibility period. Prior to the disbursement of the 10% dividend, the bid price will be adjusted downward by 10% in proportion to the additional shares. Only shareholders of record on the ex-dividend date will be eligible for the dividend.
"This equity distribution will reward our shareholders for their continued faith in our company and will effectively prevent short-sellers from receiving a dividend unless they cover their short positions. Hopefully, this plan will discourage 'naked' short selling of the stock," explained Thomas Aliprandi, CEO of PrimeHoldings.
is that that exciting? doesnt sound like it to me
Posts: 19 | From: Neptune, NJ | Registered: Sep 2005
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