Anyone know what happened to the GEMM dividend?
Posted by a4realguy on :
No, but I received my UCAD divident but my fidelity account doesn't have a ticker symbol for it or a value. Only a transaction number. I asked them about it and they say they don't have any information. Amazing.
Posted by safeguard on :
Record Date: 10/01/2004
Payment Date: 11/15/2004
Posted by justplayin on :
quote:Originally posted by a4realguy: No, but I received my UCAD divident but my fidelity account doesn't have a ticker symbol for it or a value. Only a transaction number. I asked them about it and they say they don't have any information. Amazing.
That is because the UCAD shares are restricted. No value until the restriction is lifted.
Posted by a4realguy on :
Can you explain that further for me?
quote:Originally posted by justplayin: That is because the UCAD shares are restricted. No value until the restriction is lifted.
Posted by justplayin on :
a4, a company can declare a dividend and place restrictions on the dividend shares. The most typical restriction is a time you must hold the shares before they are available to sell on the open market. Until the restriction is lifted, the shares have NO value and your account will reflect as such.
I havn't checked into the restriction yet to know how long we must hold the shares.
Additionally, I have read on the CMKX board that there was an additional service charge from the brokers to sell those shares once they are available to the open market.
Posted by ed19363 on :
Ameritrade said the restriction will be one year, and the fee for selling will be $150. Different brokers will probably charge different amounts, so you should check with your individual brokers. Gemm will be paid Nov. 15, to holders of CMKX stock as of Oct. 1, and the amount will be .00012267 times the amount of CMKX shares you owned on Oct. 1.
Posted by justplayin on :
Thanks ED!
Posted by a4realguy on :
Thanks, I appreciate it.
quote:Originally posted by justplayin: a4, a company can declare a dividend and place restrictions on the dividend shares. The most typical restriction is a time you must hold the shares before they are available to sell on the open market. Until the restriction is lifted, the shares have NO value and your account will reflect as such.
I havn't checked into the restriction yet to know how long we must hold the shares.
Additionally, I have read on the CMKX board that there was an additional service charge from the brokers to sell those shares once they are available to the open market.