quote:
Originally posted by stocktrader22:
This looks to good to be true! A .33 cent dividend on a .95 cent stock....It looks as if the price was inflated on this news, so when the dividend is paid it will probably drop that day like crazy, actually giving you a loss. Also, how is this dividend received?
I imagine it's probably paid right into your account at the beginning of December. These dividends arent unheard of (remember Microsoft's 3 dollar a share dividend). But you're probably right about it being too high -- it's run up on the news. Now of course it might run up further this week under more buying pressure -- who knows? Maybe I'll pick up more on a dip. But hey it's money in your pocket if you dont mind holding onto the stock for awhile. At least it's a real company. My dad bought their juice.
[This message has been edited by Phoenixx (edited November 22, 2004).]
A lot of stocks have ex-dividend dates (3 days beforehand) yet some dont..
WISCONSIN RAPIDS, Wis., Nov. 16 /PRNewswire-FirstCall/ -- Northland Cranberries, Inc. (OTC Bulletin Board: NRCNA) announced today that its Board of Directors has approved payment of a special cash dividend on shares of its class A common stock. The cash dividend of $0.33 per class A share is payable on December 1, 2004 to all shareholders of record as of the close of business on November 26, 2004. As of November 16, 2004, there were approximately 94,091,633 class A shares issued and outstanding. The dividend will be paid from a combination of proceeds from the recently announced transaction involving the sale of Northland's Wisconsin Rapids processing plant to Ocean Spray Cranberries, Inc., as well as new financing of approximately $26.0 million provided by certain of Northland's existing lenders.
Northland is a vertically integrated grower, handler, processor and marketer of cranberries and value-added cranberry products. The company processes and sells Northland brand 100% juice cranberry blends, Seneca brand juice products, Northland brand fresh cranberries and other cranberry products through retail supermarkets and other distribution channels. Northland is the only publicly-owned, regularly-traded cranberry company in the United States, with shares traded on the Over-the-Counter Bulletin Board under the listing symbol NRCNA.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
To the extent the Company makes certain "forward-looking statements" in this press release, such as statements about future plans, goals and other events which have not yet occurred, such statements are intended to qualify for the safe harbors from liability provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified because they include words such as the Company "believes," "anticipates," "expects" or words of similar import. These forward-looking statements involve risks and uncertainties and the actual results could differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, without limitation, risks associated with (i) the Company's ability to reinvigorate its Northland and Seneca brand names, distribution capabilities and branded products market share and generate increased levels of branded product sales; (ii) the level of cranberry inventory held by industry participants; (iii) the development, market share growth and consumer acceptance of the Company's branded juice products; (iv) agricultural factors affecting the Company's crop and the crop of other North American growers; (v) the Company's ability to comply with the terms and conditions of, and to satisfy its responsibilities under, its credit facilities and other debt agreements; and (vi) the Company's ability to identify, evaluate and successfully execute any strategic alternatives. You should consider these risks and factors and the impact they may have when you evaluate these forward-looking statements. These statements are based only on the Company's knowledge and expectations on the date of this press release. The Company disclaims any duty to update these statements or other information in this press release based on future events or circumstances.
SOURCE Northland Cranberries, Inc.
-0- 11/16/2004
/CONTACT: John Swendrowski, Chairman & CEO of Northland Cranberries,
Inc., +1-715-424-4444, fax, +1-715-422-6897/
/Web site: http://www.northlandcran.com /
(NRCNA)
CO: Northland Cranberries, Inc.
ST: Wisconsin
IN: FOD OTC
SU: DIV
CS-AM
-- CGTU074 --
9585 11/16/200417:00 ESThttp://www.prnewswire.com
It says "cash dividend on shares of its class A common stock" now my question is what is a "class A common stock", because from what ive read class A stock is only available to directors and above in the company.. is there anyone that can clarify this for me??? thanks
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in the end money is worth as much as monopoly money
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in the end money is worth as much as monopoly money
Check with your broker.
quote:
Originally posted by stocktrader22:
Let me get this straight, if I own this stock at the end of the day on November 26, 2004, and I decide to sell the morning of November 27, 2004, on December 1st I still get my .33 dividend correct?
Well according to my broker, he just told me that I could buy BEFORE DEC 2ND and still get the dividend..that doesnt really make sense, considering what the PR says and what I've been told about dividends. <sigh> That doesnt even make sense. The pay date is the 1st!
I dunno what to tell you. Buy by the 26th or earlier to be sure.
quote:
Originally posted by Bob Frey:
Be sure to be sure you take into account the settlement of the buy trade. Probably will need to buy 3 days ahead of the dividend date.Check with your broker.
Yup, I agree totally. Which means if you truly want to be safe, buy by tomorrow the 23rd.
quote:
Originally posted by Upside:
This is way off topic for this forum but if you like dividends, check out IMH and PTF. The stocks are a little pricey right now but the dividends are sweet. PTF pays out monthly and IMH pays quarterly.
Thanks for the heads-up
Which tells me if im reading it correctly that if you have bought there stock by the end of business this friday you will recive 33 cents per share you own on december 1st. but im not a pro im a noob so im subject to not understand them hard werds that mite com along round hera.
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in the end money is worth as much as monopoly money
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in the end money is worth as much as monopoly money
quote:
I really like IMH with those kinds of dividends, any others similiar?
IMH is beautiful. Last quarters dividend check was around 750.00. I always forget about it and then when it shows up in the mailbox it's a pretty cool thing. Those are the only two that I'm in but I'm sure there's more of them out there. A decent screener should be able to give you plenty of them using yield as a criteria. Good Luck.
quote:
Originally posted by stocktrader22:
The question is, do I have to hold it until December 1st?
I just talked to my broker (Scottrade). They said that you cam sell anytime after the ex-dividend and get the dividend. In this case the after the 26th. I also asked if the trade had to settle by then and they said, "You can buy it that day and still get the dividend".
Hope this helps.
______
Lou
Thank you for your email. I am showing this dividend is a stock dividend and
based on current information you will need to purchase the stock on 12/1 to
receive the stock dividend and hold it through 12/2. If this were a cash
dividend you will need to purchase the stock 3 business days before the record
date and hold the stock through record date.
Well doesnt the PR say you have to hold it by November 26, 2004? I dont know what or who is right now, because if I have to buy the stock on the dividend day which makes no sense, and then hold it through December 2nd, wouldnt the price drop significantly and the .33 mean nothing.
I'll call them again tomorrow.
[This message has been edited by Phoenixx (edited November 22, 2004).]
"The dividend will be paid from a combination of proceeds from the recently announced transaction involving the sale of Northland's Wisconsin Rapids processing plant to Ocean Spray Cranberries, Inc., as well as new financing of approximately $26.0 million provided by certain of Northland's existing lenders."
So if your going to do it the trick is knowing when to drop out and what to put your sell order limit at in order to not by passed by. I found it really wasent worth the time because theres not enough information as to when to sell the stock and still get the dividend payout and WILL I beable to sell the stock and still make a decent profit?
As far as the company goes i think its still going to stay in business because of this "as well as new financing of approximately $26.0 million provided by certain of Northland's existing lenders." So if they were going OOB they wouldnet get more money from lenders just to payout dividends to holders.
how far will it drop? i have no idea would i invest money just for the special dividend? at first look yes... knowing what i know now.. no.. thank god i didnt...
just money monopoly money's worth
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in the end money is worth as much as monopoly money
quote:
Originally posted by Monopoly Money:
I put some thought into wether or not to buy into this company just for the dividend...
In response to the above post by Monopoly Money:
In exchange for the assets purchased and settlement of the lawsuit, Ocean Spray paid Northland approximately $28.0 million in cash.
Northland and Ocean Spray also entered into an agreement for a period of ten years pursuant to which Ocean Spray will receive, clean, store and process into concentrate all cranberries harvested from Northland's and its contract growers' cranberry properties for a fixed fee.
In addition, Ocean Spray paid to Northland a $5.0 million fee in exchange for a 180-day option to purchase up to 14 individual cranberry properties for an additional aggregate cash payment of $42.5 million plus certain adjustments at the date of purchase. Northland's Meadow Valley, Associates West and Three Lakes cranberry properties are not subject to the option.
Northland will continue to own and market the Northland, Seneca and TreeSweet brands of cranberry and other fruit juices at retail stores and other distribution outlets throughout the United States. Northland will also continue to manage its grower contracts with 44 growers in Wisconsin and Oregon.
John Swendrowski, Chairman and Chief Executive Officer of Northland, said, "We are extremely pleased to announce this successful transaction, which is consistent with our goal of exploring strategic alternatives to maximize shareholder value.
We believe that fixing our processing costs for ten years will further increase shareholder value."
This is excerpted from a company PR. The full release is here -
http://biz.yahoo.com/prnews/040924/nyf045_1.html
I'm not trying to persuade or dissuade anyone from buying this stock. Just clarifying.
[This message has been edited by Phoenixx (edited November 23, 2004).]
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in the end money is worth as much as monopoly money
quote:
Originally posted by Monopoly Money:
thanks L cypher i shall consider dumping some money into this stock to see what happens... appreciate the input
No problem. BTW I bought some of this last week a little after the dividend PR.
95% of the purchases that day went through above .77 cents. About half of those above .85 cents. So it should have good support at those afterwards.
Also the stock is a bit overbought but these things often run on the ex-dividend date. The 50dma and 200dma crossed over recently too. This is a very bullish signal.
http://stockcharts.com/def/servlet/SC.web?c=NRCNA,uu[h,a]daclniay[db][pc50!c200!f][vc60][i]&pref=G
I bought more today. Easy 33% or more IMO. GLTA
_____
Lou
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in the end money is worth as much as monopoly money
"x-Dividend Dates:
When Are You Entitled to Stock and Cash Dividends
Have you ever bought a stock only to find out later that you were not entitled to the next cash or stock dividend paid by the company? To determine whether you should get cash and most stock dividends, you need to look at two important dates. They are the "record date" or "date of record" and the "ex-dividend date" or "ex-date."
When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.
Once the company sets the record date, the stock exchanges or the National Association of Securities Dealers, Inc. fix the ex-dividend date. The ex-dividend date is normally set for stocks two business days before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.
Here is an example:
Declaration Date Ex-Dividend Date Record Date Payable Date
7/27/2004 8/6/2004 8/10/2004 9/10/2004
On July 27, 2004, Company XYZ declares a dividend payable on September 10, 2004 to its shareholders. XYZ also announces that shareholders of record on the company's books on or before August 10, 2004 are entitled to the dividend. The stock would then go ex-dividend two business days before the record date.
In this example, the record date falls on a Tuesday. Excluding weekends and holidays, the ex-dividend is set two business days before the record date or the opening of the market – in this case on the preceding Friday. This means anyone who bought the stock on Friday or after would not get the dividend. At the same time, those who purchase before the ex-dividend date receive the dividend.
With a significant dividend, the price of a stock may move up by the dollar amount of the dividend as the ex-dividend date approaches and then fall by that amount after the ex-dividend date. A stock that has gone ex-dividend is marked with an "x" in newspapers on that day.
Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
If you have questions about specific dividends, you should consult with your financial advisor. You can also get information by going to your library and reading Standard and Poor's Dividend Record Binder.
I dunno..if this was a stock dividend, I wouldnt see any problem with the ex-div date being AFTER the pay date, which is Dec 1st, because that apparently is the procedure.
[This message has been edited by Phoenixx (edited November 23, 2004).]
Someone has to be wrong here. The PR does state the 26th so I'm guessing it may be correct after all. I give up. I already sold the stock anyway to buy SGLI. One thing I learned about these cash dividends though: the exchanges, NOT MASSIVE SELLING, is what actually lowers the stock price down. Because the value of the company is lost with a cash dividend, the exchanges literally set the price at exactly the amount of the cash dividend lower. (This is why Microsoft was approximately 27 bucks after their dividend payout.) So basically once this goes through the stock will be 33 cents lower. Not saying it wont climb again, but..
Anyway if you want to talk to these people, be my guest. I'd advise talking to your broker as well. I'm done thinking about this all...GLTA. Here's the numbers:
Northland Cranberries: (715) 424-4444
Tom Cahill (First Union Securities?): (800) 243-7540
Simone Harris (312) 588-4991 extension 4730
[This message has been edited by Phoenixx (edited November 23, 2004).]
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in the end money is worth as much as monopoly money
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in the end money is worth as much as monopoly money
quoted from a guy from ragingbull...
I took the dividend and bought more shares. Ocean Spray paid a $5 Million fee for an option. My guess is that they do not intend for the $5 million to be wasted.
"In addition, Ocean Spray paid to Northland a $5.0 million fee in exchange for a 180-day option to purchase up to 14 individual cranberry properties for an additional aggregate cash payment of $42.5 million plus certain adjustments at the date of purchase. Northland's Meadow Valley, Associates West and Three Lakes cranberry properties are not subject to the option."
Appears Sun intends to liquidate the assets for cash. Give themselves the cash through dividends. After assets are liquidated, I would expect them to sell the Northland name, etc. which would include grocery store space. OR they are selling off assets to pay off all debt then profit from retail sales and low overhead. All IMO.