Anyone receive their MTB stock in their accounts? Checked with my broker this AM and still nothing, he stated that he has seen it take 1 to 2 weeks before being posted. I figured out our share of MTB stock along with the amount of cash (wonder how close I'll be) .If you have received your stock please post.
I'll keep this short and sweet...Google "PennyStock101' signup for their free newsletter and get their next trade alert. Come back and thank me tomorrow!
PR news wire stated that MTB came out with its results of the election 67% of HCBK stockholders wanted MTB stock the rest cash or had made no election. Example using 100 HCBK shares. Stock consideration percentage 89.233675 shares to be exchanged for stock 89 exchange ratio x0.08403 =7.47867MTB stock. Shares to be exchanged for cash 11 x$10.062172=$110.68. Those receiving all cash will be X by $10.062172. The article is on Yahoo under my portfolio. I for the life of me could not cut & paste the url don't ask me why. Hope this information helps.
received following response from fidelity
We have not received any official word yet from MTB regarding when they plan to distribute the shares/cash that were agreed upon according to the terms of the merger. We will deposit that which is due to you as soon as possible once we receive the assets from MTB.
the high volume of trading is arbitrage between the price of MTB and HCBK. Do not do this yourself. Almost entirely high speed computers.
I did search SEC filings but found nothing it seems that the previous filings were approx. 5/7 days after their qtr report. Why such high trading the last few days? The trading was 2 to 3 times the average, I must be missing something. They have until tomorrow to issue a statement regarding the dividend, if they don't then shame on them. If they are not giving a dividend they should man up and have the decency to announce it.They made a no dividend announcement I believe when they issued the 1st qtr earnings so what is the big deal this time. This whole merger has been handled badly and not with the share holder in mind but the big wigs will get their big reward. Next week should tell the story I guess. Forget a conference call I suggest that several times over the years and received no reply.