posted
SANDWICH, Mass., Oct 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- GS EnviroServices Inc. (OTC Bulletin Board: GSEN) The board of directors of GSEN declared a dividend of 7 cents a share, payable on October 24, 2008 to shareholders of record on October 17, 2008.
Posts: 55 | From: FLORIDA | Registered: Dec 2003
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quote:Originally posted by Axion: SANDWICH, Mass., Oct 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- GS EnviroServices Inc. (OTC Bulletin Board: GSEN) The board of directors of GSEN declared a dividend of 7 cents a share, payable on October 24, 2008 to shareholders of record on October 17, 2008.
Axion, that PR is precisely the reason why this is in play. The ex-date is the first day that the stock will trade without the dividend attached. In other words, on the 24th they will pay the dividend to people who owned it on the 17th, but if you sold it after the 17th and before the 27th, you sold the dividend with the stock, and will owe the .07 to the person who bought your stock.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: I got a bunch at .08 yesterday.
Axion, that PR is precisely the reason why this is in play. The ex-date is the first day that the stock will trade without the dividend attached. In other words, on the 24th they will pay the dividend to people who owned it on the 17th, but if you sold it after the 17th and before the 27th, you sold the dividend with the stock, and will owe the .07 to the person who bought your stock.
Actually, you don't owe the div to the buyer, you just reliquish your right to the div and the buyer gets the div from the company.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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posted
We're saying essentially the same thing, but I think technically you're incorrect, but it just seems that waay because the broker handles everything. For example if you had hard copy certs and sold them after the 17th, the company would send you the dividend and you would have to send it to the buyer of yoru shares, but in this electronic word, you don't see that actually occur, and it seems like the company sends it to the right person. I may be wrong, but I'm pretty sure that's how it works.
quote:Originally posted by metal1:
quote:Originally posted by PCola77: I got a bunch at .08 yesterday.
Axion, that PR is precisely the reason why this is in play. The ex-date is the first day that the stock will trade without the dividend attached. In other words, on the 24th they will pay the dividend to people who owned it on the 17th, but if you sold it after the 17th and before the 27th, you sold the dividend with the stock, and will owe the .07 to the person who bought your stock.
Actually, you don't owe the div to the buyer, you just reliquish your right to the div and the buyer gets the div from the company.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
there is actually a difference for tax reasons. ie..when you are short a stock and it pays a div, you pay the person the div. the recipient of the div recieves it as 'cash in lieu of div', which shows up on the 1099 that way which in turn technically doesn't get the same treatment come tax time. so it is an important distinction as to who pays you the div. but yes, in the end all the money goes to the broker because most of us hold shares in street name.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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posted
Ok, fair enough. in the end it's symantics, as we're both basically saying not to sell before the 27th if you want the dividend...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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