June 15, 2005 08:07 AM ET Procom Technology, Inc. (OTC: PRCM) announced today that its Board of Directors has declared a dividend payment of $1.13 per share, which will be paid on July 14, 2005, to all shareholders of record as of June 30, 2005.
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all dividends revolve around the ex date. i've been through this argument many times on this board, and I have been right!
Basically, because dividends can get crazy the market sets the rules not the company. Now companies put out stupid Pr's. The nas doesnt care. Read first few pages on the GVRP thread, read my comments and my links to the rules. I am in Greece and don't have easy access to those links.
June 31st or July 1st, i bought my first shares, there was a sell off when people thought they had the dividend.
Feel free to call your broker, ask for the dividend and reorganization department, ask them. They will agree with me, if not, argue a little, sometimes these people are stupid.
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I believe what Keith is pointing to is explained in the following.
http://www.ex-dividend.com/howitworks.html
Quoting therefrom, "Purchase a stock on its ex-dividend date or after and you will not receive the next dividend payment. Instead, the seller gets the dividend. Purchase before the ex-dividend date, and you get the dividend."
posted
If I am reading correctly from the site in the previous post (and others), if you buy PRCM before market close on 07/14/2005 and don't sell it until after (I'm not sure about after hours sales), you are entitled to the dividend, because the "ex-date" of this dividens is set to be 07/15/2005.
The company sets both the "date of record" and the "payment date", but the "ex-date" is assigned, thereafter, by the exchange or the SEC. The company makes checks to the stock holders according to their listings as of the "date of record" and sends them on the "payment date". Customarily, the ex-date is set two market days before the date of record, but may at times be otherwise set. In practice, if you buy the stock before the ex-date and hold it until then, but are not the holder of the stock according to the companies records, your broker arranges to have the broker of the person from whom you bought the stock transfer th amount of the dividend to your account.
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got just shy of 5000 shares, from 1.42 to 1.65 will be looking at selling monday morning.
sometimes with dividends, people dont want the stock after the dividend so they all sell at the same time driving down the pps. Since there is no dillution, either wait or buy more if it drops enough for a bounce.
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The record date is the date that a person actually has to own shares of stock in order to receive the dividend. On this date, the company actually prepares a list of shareholders who will receive the dividend payment.
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Realm, that is not true! it is only the record date when there is no ex date given. Secondly, the borokerage houses are given the money or stocks to distribute to its share holders by the transfer agent.
Here are the answers from the SEC, I always have someone who argues with me, check the beginning of the GVRP thread. We all got our 3 million shares. Or at least have the rights to them.
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This is the second thread on this. I read the press release from their site. It states that you must hold the shares on 6-30-05. THey just wait and pay on 7-15-05.
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Lawguns is correct, but the nasdaq does not go by a companies press release, they go by the rules. which is ex-date. For further questions contact your dividend reorg department. The rule is ex date for a reason. stop CHAOS. Many people sold too early due to the press release and won't get the dividend. The day after press release date, the stock dropped to about 1.37 then bounced back same day.
Realm: this would have to drop a lot to lose money, to 50 cents or something. there are people who have bought just for the dividend they will sell causing a dip, you can sell too. It most likely will bounce up, anything more than a 20% drop with no dillution usually has bounce players all over it.
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Accidently typed PCRM instead of PRCM. Then began to read how you were buying on dips. I was amazed ther for a second. Its shows its up 19900% LOL.
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Derek, that would've been nice! I've also typed that ticker wrong into my buy orders.
Realm: good job double checking its your money always double check, as you can see there is a lot of misinformation given as fact on threads. Know the rules. I have a nice letter from Ameritrade that I post when people have questions but its on my home computer.
Now we just need Ameritrade to credit our accounts, whoever owns shares is entitled hopefully it arrives by the end of the weekend.
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yep got mine, the mm's dropped the pps this morning too more than i expected. I'm looking at buying for a bounce but will see how it looks.
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hmm i bought some yesterday and it seems like i have more cash in my scottrade account, but my financial history does not yet reflect and dividend. It should have gone through tho correct?
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