As of Monday morning (pre-market) CSRA-WI was 32.20, CSC-WI was 27.00 which to me looks like Friday's open (70.29) - 10.50, then split 54/46 (CSC-RA/CSC).
Of course, that's just my elementary math and doesn't mean a thing. So, if we took the 10.50 dividend off the top, before split, then it really isn't a special dividend... no extra $$$. It's just creative bookkeeping. Gee, we've never seen this before from CSC.
Will have to run some other numbers to see how it works out with final dollars.
Of course, we can all hope that both stocks SOAR back up to pre-split prices in the next couple of weeks (LOL).
TD Ameritrade has the record date as 11/18 and pay date as 11/30. Common practice for special dividends.
My problem has been trying to break books down to who will own or owe how much after the split. 70/30 split but I don't know the business.
Any help? Which business do you think will be best held?
If you wanted to keep the distribution, you needed to sell your CSC shares in the ex-distribution market, not in regular-way trading.
No need; I already know how it works. And November 30th won't tell you anything because the due bills don't settle until December 2, so the distribution on the shares you sold before November 27 may sit in your account until then.
I will let you know on nov 30 when I get paid the record date is the pay date the distribution is on nov 30 that is what it says
"you need to read it again"
No, actually I don't. You need to understand that the press release's simple statement of fact doesn't ell the whole story. While it's true that the distribution will be paid to all shareholders of record as of November 18, what the press release doesn't ell you is that all shares of CSC traded beginning November 16 through November 27 will have due bills attached that obligates the seller -- whether they are shareholders of record on Nov 18 or not -- to forward the distribution to the buyer.
"Nov 30 this is not the ex dividend date"
Yes, it is. Included in the press release announcing the distribution is the note that "Beginning on or about November 16, 2015 and continuing up to and through the distribution date, it is expected that there will be two markets in CSC common stock. Shares that trade in the “regular-way” market will be entitled to receive both the shares of CSRA common stock and the Special Dividend; shares that trade in the “ex-distribution” market will trade without the entitlements to shares of CSRA common stock or the Special Dividend."
That tell you right there that CSC continues to trade WITH the right to the distribution THROUGH the distribution date (Nov 27).
So even though the company outright tells you that you're wrong, you continue to cling to your misunderstanding. Good luck with that.
you need to read it again says record date for cash and stock distribution is Nov 18th payment date for stock distribution is Nov 27 dividend payment Nov 30 this is not the ex dividend date
Only as long as they hold until November 30. Any shareholder of record on the 18th who sells before November 30th will also be selling the right to the distribution. That's the way it works when the ex-date is after the record date. Like with this one.
Well, that may be what you tried to say. Or thought you said. But our posts do differ. You said, "anyone on record from now until the 27th of November gets the $10.50 special ex-dividend and the split of stock."
Anyone who buys on the 24th, 25th & 27th of November will get the distribution (assuming they don't sell until November 30), yet they will not be owners of record until AFTER November 27. (Buyers on the 24th will become shareholders of record on the 30th, buyers on Nov 25th on December 1st, and Nov 27th buyers on December 2.)
So, the difference is small, but it's there. And while I'd be totally justified in saying "neener-neener," I don't want to spark a message board snit!
"I believe anyone on record from now until the 27th of November gets the $10.50 special ex-dividend and the split of stock. If I am reading the reports correctly."
It's not easy to read the press releases correctly unless you already know how the spinoff process works. The press releases don't tell you everything necessary to understanding how it works. You don't have to be a shareholder of record as of the record date to get the spinoff and cash, even though that's the way the press releases make it sound. Who gets the spinoff and cash is determined by the ex-date, just like with all distributions, and the ex-date is November 30. That means you can buy CSC as late as November 27 and get the distributions of stock and cash, providing you don't sell until November 30.
The press release hints at the facts when it says, "CSC shareholders who hold common stock on the record date and decide to sell any of their common stock before November 30, 2015 should consult with their stockbroker, bank or other nominee to understand whether the shares of CSC common stock will be sold with or without the entitlements to CSRA common stock or the Special Dividend."
The company will split, (for example it will be about a 70/30 split.) Then the special div will be divided at the same ratio (example $7 and $3) and the share price of the two stocks will then diminish by that amount on the day that the dividend is paid. There won't be a big windfall - it is the same as any dividend paying company.
The Special Ex-Dividend coming. I believe anyone on record from now until the 27th of November gets the $10.50 special ex-dividend and the split of stock. If I am reading the reports correctly.