This is topic LFB dividents at $7.54 currently at 24.63 - am I missing something? in forum Hot Stocks Free for All ! at Allstocks.com's Bulletin Board.
Any thoughts? ----------- Longview Makes Special Dividend
By TSC and IRIS Staff 6/14/2006 4:32 PM EDT
Longview Fibre (LFB:NYSE - news - research - Cramer's Take) announced Wednesday a special cash-and-stock distribution of $7.54 a share, in connection with its plan to convert to a real estate investment trust.
The special dividend amounts to about $385 million and will be payable Aug. 7 to shareholders of record at the close of business on June 26, which the shareholders can elect to receive either in cash or shares of the paper manufacturer.
The Longview, Wash.-based company also announced that its amended credit facility provides for a new $300 million term-loan facility which would be used to pay off $215 million in 10% senior subordinated notes due 2009, as well as related fees.
Posted by gloomiath on :
from passed experience, usually the stock price drops the amount of the dividend when its paid out.
not sure whats to happen here so take it with a grain of salt, just sharing my past experiences.
Posted by Birkoff on :
What if you do a quick get in on the June 25th and get out on the 27th?
That should be enough to get qualified for dividends, right?
Posted by T e x on :
what's the ex-date?
Posted by Birkoff on :
Looks like it's July 26th
"The special distribution will be payable on August 7, 2006 to shareholders of record at the close of business on June 26, 2006. ."
quote:Originally posted by T e x: what's the ex-date?
Posted by bdgee on :
It's the "ex-date" that detrermines who owns the dividend, not the company's announcement of who they want or intend to pay on the "date of record"