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Nordic American Tankers Limited Message Board

  • jfredrogo jfredrogo Apr 19, 2014 12:33 PM Flag

    "above a certain threshold"

    Not sure what this dividend statement means. If you on the stock by the ex date you get both the. .13 in NAO plus the .10 in cash, correct ?

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    • I'm reading this a little differently. As I understand it, there are two dividends...one a $0.23/share cash dividend declared for Q2 (record date 5/15/2014, payable about 5/25/2014), and a second $0.13/share dividend payable in NAO shares which was declared as part of the Q1 dividend. They won't set a record date for the NAO in kind dividend until they have the listing on the NYSE secured...which to paraphrase the company...will happen "soon". It's anybody's guess what "soon" means. So May 15 is the record date for the $0.23/share in cash, and there is an unknown record date for the NAO dividend. They'll only give shares to people with holdings above a certain undisclosed threshold...for instance, I don't think they want to go through all the hassles and costs to mail shareholder communications to holders of one share. And I certainly wouldn't want to get 1 share. Depending on your broker, it may cost half of its value to sell it. Those who don't get shares get another $0.13/share cash dividend. That's how I understand it.

    • If you are above the threshold, you get 10 cents cash and 13 cents in NAO per share. If you are below the threshold, you get 23 cents cash only.

 
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