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Enzon Pharmaceuticals Inc. Message Board

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  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    "But if 22 july is not the ex date"

    The day after a record date is never the ex-date for individual stocks. That applies only to mutual funds. As I pointed out to you earlier, a normal dividend with a July 21 record date would mean that the last day to qualify for the dividend would be July 16, not July 21, which would make the ex-date July 17, not July 22. But this dividend does not follow normal dividend rules. The ex-date for this dividend is August 13. For real. No kidding. All joking aside. Without a doubt. Absolutely. The NASDAQ noted that last week on its website.

    "what does "to its shareholders of record on July 21, 2015" mean?"

    It means that the company will pay the dividend to all shareholders of record as of July 21. But that's not the whole story. All shares traded from July 17 through August 12 will be sold with due bills attached. The due bills obligate the seller to forward the dividend to the buyer. Because the company does not participate in the due bill process, its involvement ends with the payment to all shareholders of record as of July 21. That's why it is 100% accurate for the company to make the statement you're questioning. It is the brokerage houses that handle the due bills, and it's not the company's responsibility to educate its investors on the mechanics of stock trading, so they are allowed to not mention the due bill process in their press releases. Some companies do, but many don't.

    Why don't you do a google search for "understanding dividends" and read up on this stuff? You don't even know how normal dividend dates work, never mind special ones. Find out what the due bill redemption date is, the due bill period and deferred ex-dates.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    I found this; "As an example of when the 25% rule did not apply to a U.S. company, on November 29th, 2012, Enzon Pharmaceuticals (ENZN) declared a special dividend of $2, with a record date of December 10th. The stock's closing price on the day of declaration was $6.47. The declared dividend represented 31% of the stock's trading price, well above the 25% threshold. The 25% rule would dictate the ex-dividend date to be December 24th, the first business day after the December 21st payment date. Yet the ex-dividend date was December 6th, the same as it would have been under normal dividend rules. No explanation was given." And this"n rare occasions the exchanges make a mistake with the implementation of the 25% rule. On the same day that Enzon Pharmaceuticals declared their 31% dividend, November 29th, 2012, Tellabs, Inc. (TLAB) declared a dividend of $1, with a record date of December 14th. The stock's closing price on the day of declaration was $2.95. The declared dividend represented 34% of the stock's trading price, well above the 25% threshold. The 25% rule would dictate the ex-dividend date to be December 24th, the first business day after the December 21st payment date. Yet the ex-dividend date was determined to be December 12th, the same as it would have been under normal dividend rules, and published as December 12 on both the NASDAQ and Chicago Board Options Exchange websites on December the 6th. But unlike the ENZN example, on December 11th, only one day before the published ex-date of December 12th, the NASDAQ changed the ex-date to December 24th, the first business day after the payment date. They notified the options exchange of the change that same day and the CBOE issued a notice of the change. For five days the officially published ex-dividend date was December 12th, then abruptly changed on the 11th, to December 24th. Again, no explanation was given" Confusing...

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    But if 22 july is not the ex date, what does " to its shareholders of record on July 21, 2015" mean?

  • Reply to

    Here comes a Pfizer buyout!!

    by ginomagrino Jul 15, 2015 10:40 PM

    It is very duable considering it is a cash cow with p/e ratio of less than 3 and EPS 62 cents where can you find a pharma company at this low valuation..Lets go...

  • Looks like a perfect fit for a local NJ company to scoop up Enzon Pharmaceuticals. Carl Icahn is in for a reason & its not for the low stock price...
    ENZN holds several major key patents and would be a great addition to Pfizer's portfolio.
    Seems like Pfizer's buying everyone else in the pharmaceutical field ...why not Enzon Pharmaceuticals?? Small company.. Great patents..Affordable price...Eliminated the competition?? I'm in!!

    Sentiment: Strong Buy

  • Reply to

    They want this in the $1.40's badly.

    by itsa1188 Jul 15, 2015 2:43 PM

    They are playing on the swing traders knowing that they'll be the first bail on the greed factor. So, the shorts are dropping the price down in order to buy back, collect a dividend, and then short again. It doesn't matter if you're holding long for the year end dividend. There is going to be a lot of carnage along the way.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    "If you buy after the record date and sell ex div, you will receive the divvy."

    Yes!

    "And you can buy and sell at any time before the ex date."

    Yes!

    "But you have to be holding the stock as of Aug 12th."

    Yes!

    "Its a special DIVVY, with Special rules."

    Yes!

    "Dont you feel special?"

    Oh, he's special, all right. He thinks he's going to teach us all a thing or two about special dividend dates when he doesn't even understand normal dividend dates.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    Oh, and by the way, ahojzivot63, if this dividend used normal dividend dates, you'd still be wrong (" If that piece of news is right, july 21st is the last date of an ENZON share including the extr dividend," because a normal dividend with a July 21 record date would mean that the last day to qualify for the dividend would be July 16, not July 21. Perhaps you ought to study up on normal dividend dates before you even think about telling others how deferred dividend dates work.

  • Reply to

    Stay in till dividend or sell?

    by shoelessnate Jul 15, 2015 10:50 AM

    "So that, the following apply?"

    Yes. All the people on this board claiming that you can't buy as late as August 12 and still get the dividend are overlooking the due bill process. Not out of malice, mind you, but simply out of ignorance.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    "If you buy the 22nd of july you won't get it."

    Why don't you study up on the due bill process and get back to us? As it is now, you're 100% wrong. Just because you may not have seen the use of a deferred ex-date, they do in fact exist. And this dividend will use one.

  • "So I can buy ENZN AFTER the record date 7/21, But before the Ex date 8/13 and I will still receive my 5 figure divvy payment???"

    Yes. But be aware that on the ex-date the price of ENZN will drop about the amount of the dividend to reflect the cash no longer being available to new buyers. It may drop a little more than the dividend or a little less, and maybe even the exact amount, but it will drop. ...No matter what the Pollyannas here claim.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    You AND Insider Monkey are WRONG. If you buy after the record date and sell ex div, you will receive the divvy. And you can buy and sell at any time before the ex date. But you have to be holding the stock as of Aug 12th. Its a special DIVVY, with Special rules. Dont you feel special??

  • Reply to

    Stay in till dividend or sell?

    by shoelessnate Jul 15, 2015 10:50 AM

    "Go to the NASDAQ site and look at Dividend History for ENZN and you'll see the ex-date is indeed August13".
    Yes it is, thanks.
    So that, the following apply?? : This can be very confusing, having the ex-dividend date after the payment date. To further confuse things, in such circumstances, any shareholders of record who sell their shares before a deferred ex-dividend date also sell the right to receive the dividend. This is not optional to the seller, it is mandatory. The right to receive the dividend is contained in an attachment to the sold shares and that attachment is called a due bill.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    Insider Monkey news about the dividend: "The biotechnology company will pay the special dividend on August 12, 2015 to its shareholders of record on July 21, 2015". If that piece of news is right, july 21st is the last date of an ENZON share including the extr dividend. If you buy the 22nd of july you won't get it.

  • and I will still receive my 5 figure divvy payment???

  • Reply to

    Stay in till dividend or sell?

    by shoelessnate Jul 15, 2015 10:50 AM

    "BE CAREFUL!! As an example of when the 25% rule did not apply to a U.S. company ..."

    Sure, it's good to be cautious, but the NASDAQ already announced last week that the 25% rule DOES apply in this case, so there is no question this time. Go to the NASDAQ site and look at Dividend History for ENZN and you'll see the ex-date is indeed August13.

  • Reply to

    Till dividend do us part.

    by ahojzivot63 Jul 14, 2015 4:34 PM

    "Not to August 12th but to july 21st"

    No, itsupfrom here is right (Finally! He argued about it until even he figured it out.)

  • Reply to

    Stay in till dividend or sell?

    by shoelessnate Jul 15, 2015 10:50 AM

    BE CAREFUL!! As an example of when the 25% rule did not apply to a U.S. company, on November 29th, 2012, Enzon Pharmaceuticals (ENZN) declared a special dividend of $2, with a record date of December 10th. The stock's closing price on the day of declaration was $6.47. The declared dividend represented 31% of the stock's trading price, well above the 25% threshold. The 25% rule would dictate the ex-dividend date to be December 24th, the first business day after the December 21st payment date. Yet the ex-dividend date was December 6th, the same as it would have been under normal dividend rules. No explanation was given.

  • Reply to

    dividend............

    by jdocks777 Jul 14, 2015 8:43 PM

    "Last day to buy in is tomorrow (7/16)"

    No, the last day to buy for the dividend is the day before the ex-date, just like with ALL dividend paying stocks. With he ex-date being August 13, you're off by only a full month.

  • Reply to

    dividend............

    by jdocks777 Jul 14, 2015 8:43 PM

    "Seems really odd that at this date people would be selling shares. I can only think they have no idea of the dividend issue unless I don't fully understand how this works."

    It's you. You can buy the stock as late as August 12 and receive the dividend. You can buy and sell it as often as you want up until then, but if you want the dividend, you have to be holding it at the close of extended hours trading on August 12. There's no need to hold from the record date through the 12th.

    "Can't you buy in a day or so before the record date, hold through that and pick up the div?"

    Yes, but you can also buy it the day before the ex-date (which is August 13), so there's no need to scramble four weeks ahead of time.

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