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.
Posts: 333 | Registered: Mar 2006
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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.
-------------------- Always do your own due diligence. My posts are neither a buy, sell, or hold recommendation; and express only my personal opinion. Please consult your financial advisor before making any investment decisions. Posts: 163 | From: Ohio | Registered: Jan 2006
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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"
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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