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Emmis Communications Corp. Message Board

  • micronkelly micronkelly Nov 8, 2006 2:31 PM Flag

    NO Dividend if you buy today.

    If today is the ex-dividend date 11-8-06 then if you buy it today you will not get the dividend.
    If you bought yesterday 11-7-06 then you would get the dividend.
    When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.

    Once the company sets the record date, the stock exchanges or the National Association of Securities Dealers, Inc. fix the ex-dividend date. The ex-dividend date is normally set for stocks TWO BUSINESS DAYS before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.
    Be careful about buying today check with your finacial advisor.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Today, 11-10-06 IS NOT the EX-DIV date. the 22nd is the EX date. Why did you post this gargage???????

    • yes, the 12th is just a formality. for people trading the stock in the open market, it is irrelevant. companies need to have some date on their books for record keeping. this is also needed internally for things like employee stock options, etc.

    • the 12th is just the record date. it's a formality that they have to put on their books. since they already announced that date, there was no reason to change it.

    • The only thing is the ex-date is not the 8th. The exDate is the 24th. Any purchase today, tomorrow, next week, even the week after that, will get the dividend, as they are attached to the shares you purchase...right up to Nov 23rd. Yahoo does not have the exdiv date correctly stated...don't take my word for it, write Investor Relations at the company. I did, they send back a very nice note, which has been posted on this site. If you listen to Micronkelly, you are getting bad advise about the dividend.

      _Splat

      • 1 Reply to option_splat
      • option,
        Your answer is factual. We investors MUST read and understand the difference between regular and special dividends as defined in a previous post with supporting reference.

        Tha facts always speak for themselves. The price of EMMS has not dropped yet and will not until the ex-date. The market maker will drop the price by the amount of the dividend. There is no getting around this. It has not happened yet.

        It will be interesting time after EMMS goes X. Will it recover, and by how much? Look at Microsoft after it paid that $3.00 divy last spring (I think). Didn't do much after, but it did recover eventually and is OK now.

        http://finance.yahoo.com/q?s=sdrl.ol

        Meanwhile, if you have bought it, enjoy the divy, and I hope it works out well after. BTW, I noticed with a cursory glance EMMS has a P/E of 1. Very cursory glance.

        Disclaimer: I do not own EMMS and will not unless I study it, and fast, and decide the company without the divy is worth my money.

        Bruce

    • Then what does the 12th have to do with it?

    • Thanks for clarifying that. Considering that the share price is close to its 1 yr low, it seems unlikely that it will stay down $4 the day following the payout. In any case this seems like really easy money....or am I missing something here.

      I'm new to this stock...just caught my eye when someone on another MB wrote about the dividend.

    • LIKE I said I stand by that fact that if you buy today you do not get the DIVIDEND. Sorry if you bought today.

      Indianapolis�Emmis Communications Corporation (Nasdaq: EMMS) today announced that its Board of Directors has declared a special cash dividend of $4 per share payable pro rata to all holders of the Company�s common stock, with a record date of Sunday, Nov. 12, 2006 and a payment date of Wednesday, Nov. 22, 2006.


      http://www.sec.gov/answers/dividen.htm

      Ex-Dividend Dates:
      When Are You Entitled to Stock and Cash Dividends
      Have you ever bought a stock only to find out later that you were not entitled to the next cash or stock dividend paid by the company? To determine whether you should get cash and most stock dividends, you need to look at two important dates. They are the "record date" or "date of record" and the "ex-dividend date" or "ex-date."

      When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.

      Once the company sets the record date, the stock exchanges or the National Association of Securities Dealers, Inc. fix the ex-dividend date. The ex-dividend date is normally set for stocks two business days before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend

    • the record date is Nov. 12...the ex-div date is Nov 22...a little strange since in my experience the ex-div date is before the record date....

      11/02/2006
      EMMIS DECLARES SPECIAL CASH DIVIDEND ON COMMON STOCK

      Indianapolis�Emmis Communications Corporation (Nasdaq: EMMS) today announced that its Board of Directors has declared a special cash dividend of $4 per share payable pro rata to all holders of the Company�s common stock, with a record date of Sunday, Nov. 12, 2006 and a payment date of Wednesday, Nov. 22, 2006.

    • micronkelly,

      stop spreading false information.

      the ex-div date is nov-24th, as long as u buy it before that date U WILL GET THE DIV

      • 3 Replies to nickelpincher
      • As promised, I am posting the results of the (almost immediate and courteous) call back from Kate at Emmis Communications.

        Having to do with the special nature of this dividend and in accordance with SEC rules, shareholders who own the stock on or before Nov. 22 (I'm certain this means the trade has SETTLED) will receive the dividend. The "record date" of Nov. 12 has no significance here.

        According to Kate at Emmis.

      • As promised, I am posting the results of the (almost immediate and courteous) call back from Kate at Emmis Communications.

        Having to do with the special nature of this dividend and in accordance with SEC rules, shareholders who own the stock on or before Nov. 22 (I'm certain this means the trade has SETTLED) will receive the dividend. The "record date" of Nov. 12 has no significance here.

        According to Kate at Emmis.

      • I've just called rthe CFO office at Emmis and will be glad to report if I hear back. Thanks for the suggestion. As far as my brokerage house is concerned, TD Ameritrade says the stock I purchased yesterday, Nov. 8, 2006 WILL receive the dividend. Because it is a special dividend, subject to different rules.

        As I now understand NORMAL dividend, the date of record refers to owners of the stock on that date, and it means that not only have you ORDERED the trade, but that the trade has SETTLED, usually three days , business days, after the trade date.

        Hope this helps somebody. It explains why so many people believe stock bought on the 8th would not qualify. I'm just grateful that it seems those people are wrong in this particular case.

    • According to the press releases, the record date is Sunday, Nov. 12. So why would you not get the dividend if you bought today?
      As an aside, I am wondering how a record date can be on a Sunday unless the settlement date can be on a weekend.

 
EMMS
2.34-0.13(-5.26%)Sep 19 4:00 PMEDT

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