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Frisch's Restaurants, Inc. Message Board

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  • cwn600 cwn600 Sep 16, 2012 11:53 PM Flag

    To Fatfighter......Got my $19,000 in special divys!!

    "Stock only goes down $1.22, after divy is paid!"

    The price adjustment for the dividend happens on the ex-date, not the payment date. The ex-date for this one is Monday, the 17th.

    Because you sold on Friday, you sold with due bills attached to the shares you sold that obligate you to forward the dividend to whoever you sold your shares to. As a result, the dividend will be withdrawn from your account on the due bill settlement date, which is sometime in the coming week.

    The company told you all this in a press release several weeks ago: "Shares of the Company's stock will trade with "due-bills" beginning August 29, 2012 (two business days prior to the record date) through the September 14, 2012 payment date ... Due-bills obligate sellers ... to deliver the dividend to the buyer."

    "I am still in shock that this was that easy!"

    You're going to be in shock all over again when you find out is wasn't that easy.

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