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Author Topic: NEGI !!!!!!
macdrsirules
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Topic is on nasdaq board as well.

DALLAS, Jan. 22 /PRNewswire-FirstCall/ -- National Energy Group, Inc. (OTC Bulletin Board: NEGI - News; "NEGI" or the "Company") announced today that it has declared a one-time cash dividend on its outstanding common stock in the amount of $3.31 per share, or $37,041,051.50 in the aggregate, payable on February 15, 2007 to stockholders of record as of the close of business on February 1, 2007.

Not only the divi coming but also look at this. EPS of over 3 bucks which is TTM. PE less than 2!!!

Industry average is over 13!!!

http://finance.yahoo.com/q/co?s=NEGI.OB

OS is just over 11 mill and float of less than 6 mill if yahoo finance is correct. Insiders own over 50% of the OS.
http://finance.yahoo.com/q/ks?s=NEGI.OB


By all means DO NOT TAKE MY WORD FOR IT as I have only been looking at it for about 15 minutes tonight. RESEARCH IT YOURSELF.

From what I can tell you should be able to buy after Feb. 1 up until the 15th and still get the DIVI. if I am not mistaken regardless of what the PR says.

Edited to add-I do not even have a position in this thing yet and am not compensated in any manner.

Posts: 539 | From: BIG D | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
Jo4321
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I would read that as you need to be in by February 1st. But it is payable February 15.

If accurate, that's one heck of a dividend. Last dividend I got from one of my big board stocks was .005! LOL

--------------------
"Great Day for Up!"....Dr. Seuss

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Jo4321
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It's up .42

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"Great Day for Up!"....Dr. Seuss

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Repoman75
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You realize though that the price will probably drop by $3 after the paydate... there is no free money when you try to buy for a dividend only. YOu may want to wait until after it is paid if this company is the real deal.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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macdrsirules
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The price will most likely drop, yes that is correct. The dividend because of the enormous size gets some serious exposure as you can tell in the trading volume which leads investors to look into this company, and as I stated above the EPS is enormous and the PE is less than 2!!!

This company has been in business since 1955. It is real, I just went to the address this afternoon. The logo on the high rise says National Energy. I went to the 14th floor and when I stepped out I was there. The whole floor is theirs it appears, no hallway, you step out of the elevator and into the office. I had called them and told them I would like to drop by and speak to someone and they told me they would call me back when they could find someone to help me in reference to the stock. I did not want to just drop in while people were working without an invite so I just stepped back onto the elevator. LOL

I will talk to them probably tommorrow.

BTW-You should be able to buy up until the 15th and still get the divi.

Dividends Or Distributions
25 Percent Or Greater Than
Security Value
The second method, under
subparagraph (b)(2) of Rule 11140,
provides that for dividends or
distributions that are 25 percent or
greater of the value of the subject
security, the ex-date shall be the
first business day following the
payable date. For example, if an
issuer has announced August 10 as
the record date and August 31 as
the payable date, then the ex-date
will be September 1, the first
business day after the payable
date. In this example, September 1
is the day on or after which a buyer
would purchase the security without
the dividend and, therefore, the day
on which the price of the stock is
adjusted downward. In this
example, a seller of the security on
August 15, even though the holder
of record to receive the dividend,
would have to relinquish the
dividend to the buyer. Indeed,
because the value of the security
on August 15 has not yet been
adjusted downward to reflect the
dividend distribution, the seller in
this example would be unjustly
enriched by keeping the dividend.
The seller would have received the
value of the dividend twice: first, as
fully reflected in the unadjusted
price of the stock on August 15;
and secondly, as subsequently paid
by the company to record date
holders.

The big thing here is a very undervalued stock. If yahoo finance figures are accurate concerning the industry and the competitors then the PE should be about 13.

13 X 3+EPS=39+ bucks.

I do not know if it will ever get there but what I just posted is very basic fundamentals.

GLTA

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macdrsirules
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Read this

I have been looking at the recent 8-k's and realized that this company is technically classified as a shell. A shell that has alot of cash. It just became that way very late last year.

Read the 8-k's for all the info.

I have heard that acquisitions will be announced soon, so they will not be considered a shell very soon. I seriously doubt their EPS will be much this year.

I will get more info as I can.

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macdrsirules
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Cash balance after dividend distribution and income tax is expected to be 40-47 million.
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macdrsirules
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Transfer agent states OS is indeed 11,190,650. Also just over 50% of OS is held by affiliates of Mr. Carl C Icahn. The remaining shares are float.

No position just yet, still lurking here. Watch it. If you daytrade I would suggest putting the streaming news on your platform for this stock it may turn into more of at least a swing trade if not long term hold. If I am correct there is still plenty of time to get the divy.

GLTA

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PCola77
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I bought this yesterday at $6.30. Got a $3.31 divi per share in my Scottrade account. Price opened at $3.00 (where you would think it would), but it has been rising all day since then, now at $3.60 (eitehr 20% or 9.5%, depending on where you look at it from). Either way, not too bad. Still holding my shares to see how high it goes.
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R1 Man
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quote:
Originally posted by PCola77:
I bought this yesterday at $6.30. Got a $3.31 divi per share in my Scottrade account. Price opened at $3.00 (where you would think it would), but it has been rising all day since then, now at $3.60 (eitehr 20% or 9.5%, depending on where you look at it from). Either way, not too bad. Still holding my shares to see how high it goes.

You can't buy it after the record date and get the shares divy. Not sure why you got it though. How your alright but don't do that stuff anymore. You buy 3 days before the RECORD date and hold if you want splits and divys. Other than that.....you can day trade it in between the 2 but DON'T ever buy and hold between the 2!! JMHO.
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PCola77
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r1 Man, you're incorrect. Ex-date is the only important date.

Basically it works this way:

Person A buys before record date
person a now has a share of the stock, plus the right to the dividend.

If person A sells the stock to person B before the ex-date, they sell the right to that dividend with it.

The ex-date is the first date that selling the stock doesn't mean you're selling the right to the dividend.


Another way to think about it is that where would the dividend go if Person A sold and person B didn't get the dividend?

1) Would person A get it? That wouldn't make sense because they would get the dividend AND sell for the higher price.

2) Would it just vanish, meaning no one would get the dividend? no, because dividends are calculated based on cash value of the dividend and total outstanding shares.

3) Would person B get it, because they paid the price of the stok before lowering to remove the dividend from the balance sheet? yes, that's the only way it would make sense.

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wallymac
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There usually seems to be confusion when a dividend is issued for 25% or more of the PPS. There are special rules that apply to it. In most cases the Ex-Dividend Date is before the Record date but in this case the Ex-Date is the day following the payment of the Dividend. PCOLA is right about the only date that really matters for dividends is the Ex-Date.

"Dividends Or Distributions 25 Percent Or Greater Than Security Value

The second method, under subparagraph (b)(2) of Rule 11140, provides that for dividends or distributions that are 25 percent or greater of the value of the subject security, the ex-date shall be the first business day following the payable date. For example, if an issuer has announced August 10 as the record date and August 31 as the payable date, then the ex-date will be September 1, the first business day after the payable date. In this example, September 1 is the day on or after which a buyer would purchase the security without the dividend and, therefore, the day on which the price of the stock is adjusted downward. In this example, a seller of the security on August 15, even though the holder of record to receive the dividend, would have to relinquish the dividend to the buyer. Indeed, because the value of the security on August 15 has not yet been adjusted downward to reflect the dividend distribution, the seller in this example would be unjustly enriched by keeping the dividend. The seller would have received the value of the dividend twice: first, as fully reflected in the unadjusted price of the stock on August 15; and secondly, as subsequently paid by the company to record date holders.

This Notice reminds member firms and their associated persons that ex-dates are determined differently, depending on the size of the distribution. Current and historical dividend information is maintained by The Nasdaq Stock Market and can be found on the Nasdaq Trader Web Site at " target="_blank">www.nasdaqtrader.com/dailylist/dl_di_ind.stm."[/b]

http://nasd.complinet.com/nasd/display/display.html?rbid=1189&record_id=11590019 39&highlight=ex+dividend

GLTA
Wally

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