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Onvia Inc. Message Board

  • mrmonarch2000 mrmonarch2000 May 3, 2002 10:57 AM Flag

    There will be some sad guys on Monday

    Noticed dividends for most of what I owned recently posted to my accts today despite the fact that I sold the stk. Wasn't expecting that, had been selling based on a nominal 25 cent valuation post-dividend ($2.50 post reverse split, whatever).

    It's quite the windfall. Called the broker to confirm that the money is indeed available for my use, and under no circumstance would have to be returned.

    Looks like buyers for at least a good part of this week WON'T be receiving any dividend.

    Hope they've factored that into the price.

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    • When DTEC announced the DVIN merger I immediately sold my DTEC. I don't like Flipiwoski. DTEC has good technology but I didn't want to be part of DVIN - it's been a loser almost since its inception. I think I sold DTEC for about .83.

      Then a short while later VIAN announced that they would merge into DVIN as well. I couldn't believe it - I can't get away from DVIN! So I sold my VIAN on the jump at 1.68. I had been holding it for the cash, thinking it would go for over $2 on a takeover. The details of the deal did value VIAN at over $2 at the time of the proposed merger but the price of VIAN was now tied to DVIN shares which I didn't like.

      If I was to play the DVIN/DTEC/VIAN game at some point in the future (which I may) I would do it through VIAN simply because it is underpriced relative to the other two - I think that it's "true value" should the deal go through is something like (4xDVIN) + 50 cents. I think that it is selling at about 20 cents below that now.

      Just my thoughts. Good luck.

    • mrmonarch2000,

      What date did you sell the Onvi stocl that you have rec'd the cash div from. And are you saying the cash is already in your brokerage account? I thought Ex-Div date of Monday, 5/6 was the payout date and you had to hold the stock through close of bus today, Friday, 5/3/02?

      I called my Fidelity brokerage rep and my account has not rec'd the Div yet. No record of it other than the company news that it's supposed to happen and Ex-Div date is May 6th. So, how/why have you rec'd your cash already? I need to investigate my situation because I'm relying on receiving my cash ASAP to pay down another house call. So, any info on yours will help me investigate my situation.

    • Not true! Bad news is ahead for you when your broker takes the money back out of your account next week. If it was put in, it is a mistake. The stock goes ex-div on Monday which means that you must hold at today's close.

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