--- 9 for 1 Stock Dividend Declared by Eastern Services Corporation On January 4, 2008, Eastern Services Corporation (OTCBB: ESVH) announced that it declared a 900% dividend on its Common Stock to all holders of record on January 15, 2008. Each shareholder of record on January 15, 2008 will be issued nine additional shares of Common Stock for each share held on such date.
As a result of the dividend, an aggregate of 12,600,000 shares will be issued to the Common Stock holders of record on January 15, 2008 and the number of the Company's outstanding shares will increase from 1,400,000 to 14,000,000.
The stock certificates are expected to be delivered on January 15, 2008. There will be no change in the par value and no fractional shares will be issued. Further disclosures were filed on Form 8K
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would this mean that if you buy shares now that you'll get 9 times more shares and be able to sell them at nearly the same price? Sounds too good to be true but hey, it's always a possibility
T e x
posted
no...pps will reset on ex-date: par value not same as market price.
Bottomfeeder
posted
Wouldnt this just mean a forward split?Price of $25 now would be $2.78 if the price never changed.
kermit42
posted
Sounds like a forward split. You won't make any money off it directly, but it should increase liquidity and make it easier to get in and out of the stock. (It's a little pricey for an OTCBB and the 10 day trading average is only 350 shares).
posted ![[Big Grin]](biggrin.gif)