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.
gloomiath
posted
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.
Birkoff
posted
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?
T e x
posted
what's the ex-date?
Birkoff
posted
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?
bdgee
posted
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"
posted