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T O P I C     R E V I E W
bilgert  - posted
http://otcbb.com/asp/dividend.asp?sym_id=MAXW&dDate=5/16/2008&sDateType=ex_date

Also, stupid question- ex date is tomorrow, but payment day was yesterday- what happens if you bought today? You've bought before the ex-date, but payment was yesterday.

I always mess this up when it gets reported this way. My mind always gets twisted.
 
bilgert  - posted
Wait- i get it now:

Special or Significant Dividend Payments
The amount of the Dividend is declared Special or Significant in relation to the stock price. For this reason the ex-dividend date is set one stock trading day after the payment date. The stock will trade on an ex-distribution basis, adjusted for the amount of the dividend paid one trading day after the payment date. The determining factor for a Special or Significant Dividend is usually when the dividend is 20% or greater in relation to the underlying price of the stock/security.

To be entitled to a Special or Significant Dividend you need to be a stockholder on the Record Date. To be a stockholder on the Record Date your purchase would have needed to be made a minimum of three stock trading days prior to the Date of Record or Record Date.

In the case of Special or Significant Dividends, the stock trades without the dividend from the Record Date, thru the Payment Date, then adjust for the dividend paid and starts trading on an ex-distribution basis one stock trading day after the Payment Date. To be entitled to receive the dividend, it is required that you be a stockholder on the Record Date and hold your stock thru the Payment Date in order to receive the dividend. When a Special or Significant Dividend is being paid selling your stock between the Record Date and Payment Date relinquishes your right to the dividend.

The earliest you can sell your stock and still be entitled to the Special or Significant Dividend is one day after the Payment Date, or the date the stock begins trading on an ex-distribution basis.
 
T e x  - posted
That's from Wikipedia...

as far I know, anytime you buy before the ex-date (if one is declared) AND you hold until the ex-date, you're eligible. And, yes, sometimes it's possible to get paid, then buy again with that divvy money and get paid again.

Wish I had seen this today...
 
T e x  - posted
oh...belay that...last time this was a play was the first week of April.

Anyway, all that stuff about settling, T+3, etc is gobbledygook. And this...

quote]When a Special or Significant Dividend is being paid selling your stock between the Record Date and Payment Date relinquishes your right to the dividend.[/quote]

...is just wrong.
 
bilgert  - posted
Well, for ****s and giggles I bought a little today- we'll see what happens...
 
T e x  - posted
Theoretically, it's a wash: you should get the dough, but there'll be no stock left over, right?
 
bilgert  - posted
I suppose- unless they maintain it as a shell?
 
T e x  - posted
dunno...is there a filing?
 
bilgert  - posted
They haven't filed since 2003, lol.
 
bilgert  - posted
.03/.035- I'm up .01, lol
 
T e x  - posted
you got paid?
 
bilgert  - posted
No- broker I called broker and he said I would- granted we know what idiots they can be sometimes. I was speaking prematurely..
 



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