Where does this go after the dividend? There will be 2.5 dollars per-share less cash, and expectations of essentially flat revenues. What keeps this from drawing back down into the 20's. I mean honestly, it hasn't fundamentally advanced by a very large amount from when the shares were at 24$
I have sold my shares that I bought at 26$ a few months ago because I feel the value will be less compelling after the payout than it was this summer when they had more cash on-hand and lower expectations.
Thanks Holgi, very nice of you to post that. Looks like the key lines on Wikipedia are:
"The process is further complicated by the fact that it takes time for a stock purchase to "clear" or "settle." To allow time for this processing, stock exchanges set a date — generally two business days prior to the record date — known as the ex-dividend date. Someone who purchases the stock on or after the ex-dividend date will not receive the dividend, as the purchase will not "settle" by the record date, and therefore the buyer will not be on the list of shareholders to which the company pays its dividends.
Fears of the recession's impact had kept Buckle in the $20s. It didn't need to "fundamentally advance" to rise back to the $30s, just prove those fears wrong, which with it's fine management and cash controls Buckle has done.
Why the $2.50 readjustment in stock price today? It clearly reflects the special dividend, but per the press release I thought BKE went ex-dividend at the close on Friday. Only informed answers please, no speculative BS.