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Sturm, Ruger & Co. Inc. Message Board

  • yourdeadmeat69 yourdeadmeat69 Nov 22, 2012 11:05 AM Flag

    What we think we know so far about the special dividend:

    It's $4.50.

    Last day to buy the stock and get the dividend is 4 Dec, by 8PM EST. AH trading "counts".

    Ex dividend is 5 Dec. Ex means, that's the day you buy and CAN'T get the special dividend.

    The 5th of December, PM as early as 0400 EST, as soon as computer programs run and list the stock, the shares will show a $4.50 decrease from the last buy. EG, if that was $54.50, new price ex div is $54.00.

    Strike prices for both puts and calls should reflect a $4.50 decrease--EG all $50 strike puts and calls for example, should be $45.50, which should drive everyone nuts on many levels. Did me.

    You have to be a holder of record by 7 Dec. That's why the 4th of December is the last day you can buy the stock. The exchanges etc ( I call them "platforms" because they're as large and imposing as aircraft carriers) have three business days to get your last day buy "on the record". This 3 day shtick is an ancient holdover from paper transaction days, fyi and qualifies as a PIMA. (pain in my #$%$)

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    • "The 5th of December, PM as early as 0400 EST, as soon as computer programs run and list the stock, the shares will show a $4.50 decrease from the last buy. EG, if that was $54.50, new price ex div is $54.00."

      You just hit on something that I was uncertain about. I was under the impression that the $4.50 wouldn't be subtracted from the Bid and Asks until open of the regular session at 9:30am.

      By the way, you meant to say $50.00, not $54.00 :).

 
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