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Comcast Corporation Message Board

  • dayton1800 dayton1800 Jun 13, 2013 2:26 PM Flag

    Tender Offer

    I received this message from Scottrade regarding CMCSA. I dont know what that means...do you have any idea?

    "The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 06/28/2013....If you choose to accept this offer, please inform your local Scottrade team no later than 10 a.m. ET on the expiration date; a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender occurs (be advised that expiration dates are often extended and terms are subject to change).

    thanks in advance.

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    • This notice has nothing to do with the re-purchase progam. This is an odd-lot program and is optional. You can either buy more shares to make 100 or you can sell what you have throught the program. The program has a fee and a commission for participating. The offer expires June 19 unless it is extended. You can do nothing and continue to be a shareholder in Comcast with the number of shares that you have. As I said this is completely optional on your part.

      • 2 Replies to jwh460
      • jwh,
        Thank you for your response. I did a little research and found the same thing, was going to post something yesterday but got busy and forgot. While the 2 billion share repurchase program is for real, they are not going about it in the manner ascribed by some of the other posters. Of the 2 Bil repurchase, I don't even know if they're purchasing the shares on the open market. Most companies of this size first repurchase the shares that are being cashed out following the option exercised by corporate executives as a part of their compensation packages. This way they are liable for taxes at their capital gains rate as opposed to standard income. All in all, it is a vote of confidence that does keep down the size of the float. Some would argue for a boost to the dividend. Currently there is a .195 dividend payable to owners of record on 07/03/13 to be paid on 7/24/13

        Sentiment: Buy

      • CORRECTION: The offer expires on June 28, not June 19. My mistake. I got the dates mixed up with another offer (PFE/ZTS).

    • I haven't received a notice yet. It could have something to do with the company's repurchase of their own shares. Instead of buying them on the open market directly they're soliciting them via the brokerage firm clients?

      • 1 Reply to stocktriage
      • Yes, that is correct:
        "Comcast (NASDAQ: CMCSA ) has announced its latest quarterly dividend. The company, which just revealed that it is to buy out General Electric's stake in NBCUniversal, will pay $0.195 per share of common stock. The disbursement will be made on April 24 to shareholders of record as of the end of April 3.

        The just-announced dividend represents an increase of 20% on the prior payout. At an annualized rate, the new disbursement yields 2% on the current share price.

        Comcast also announced that it has launched a share-repurchase program. The company will buy back $2 billion of its stock in the course of 2013. Such purchases are "subject to market conditions," as it wrote in the news release announcing the move."

        That a pretty HEFTY REPURCHASE PROGRAM@ 2 BILLION DOLLARS!

        Sentiment: Strong Buy

 
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