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National Presto Industries Inc. Message Board

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  • stockholderrevolt stockholderrevolt Feb 15, 2000 11:28 PM Flag

    FXC newsletter TCBY takeover today.

    The ex-date(the date on which the stock begins
    trading without its latest dividend) has occurred in late
    February since 1994. Specifically: Feb 25 in 1999; Feb 26
    in 1998; Feb 27 in 1997; Feb 27 in 1996.

    On
    each of those dates the stock opened at $2.00 a share
    below the closing price of the previous day. However,
    if you were to have looked at the price on the
    ex-date, it would be reported as unchanged from the day
    before, becasue the price-drop due to going ex-dividend
    is not a true price change. The change is not due to
    trading.

    It is theoretically possible for the stock to regain
    the entire $2.00 a share during trading on the day it
    goes ex-dividend. In fact, that did not happen with
    NPK. However, in 1998, the price climbed from $39.00
    to almost $43.00 in the first few days of March,
    after it had dropped on the ex-date.

    You may be
    confusing the ex-date with the record date or the payment
    date. The ex-date is first, followed by the record date
    and then the payment date. NPK's payment date has
    occurred in March since 1994.

    The stock has dropped
    considerably in recent months. Though I'm sure the price isn't
    headed for the low $20s, I cannot give you a rationale
    for buying it at this time if the plan is to scalp
    the dividend payment in hopes of a quick profit. In
    the current market environment, it is more likely
    that the stock will lose a little more ground after
    going ex-dividend because another year will have to
    pass before investors receive their next
    payment.

    On the other hand, if management would return the
    shareholders' capital to the shareholders, all would be well.
    As I've stated before, either a large special
    dividend should be paid or the company should be sold. The
    two top dogs are not operating the company in the
    best interests of the majority of its shareholders.

 
NPK
56.69-4.02(-6.62%)Oct 1 4:01 PMEDT

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