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The Coca-Cola Company Message Board

  • lisa_in_shoreview lisa_in_shoreview Aug 8, 2012 8:50 PM Flag

    August 10, 2012

    It is Aug. 8, and I just finished discussing the 2-for-1 stock split with Fidelity.

    The date of record was 7/27. You needed to own the stock at close of business on 7/27 to qualify for the stock split.

    If you bought AFTER 7/27 you will NOT get the 2-for-1 split.

    You CANNOT buy this stock at the last minute and get the 2-for-1 stock split; it does not work that way.

    I'm confident that Fidelity knows what they are talking about because this isn't their first rodeo.

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    • Lisa, you keep repeating the same mistake: "If you bought AFTER 7/27 you will NOT get the 2-for-1 split"

      KO's FAQ on their website tells you this isn't so, yet you continue to believe it. So one more time, the question on KO's Two For One Stock Split FAQ asks: "What happens if I sell my shares of stock after the record date and before the payment date (distribution date)?"

      And the answer is: "We've been advised by the New York Stock Exchange that beginning as early as two days before the record date (July 25 th ) through the payment date (August 10 th ), two separate markets for common stock of The Coca-Cola Company will trade on the NYSE. The "regular way" market, traded under the ticker symbol "KO", will continue to trade at the higher, pre-split price. Shares sold in the market at the "regular way" price will receive full value for the shares sold and the seller is not entitled to the split shares they will receive by virtue of their being holders on the record date."
      ********************
      Now, the New York Stock Exchange has advised KO that you do NOT have to be a shareholder on the record date to get the split shares. So who do you think is correct, the NYSE or a customer service rep at Fidelity?


      You go on to make another wrong claim: "You CANNOT buy this stock at the last minute and get the 2-for-1 stock split; it does not work that way."

      Yet KO and the New York Stock Exchange both say you can because it DOES work that way. KO explains that too in their Two For One Stock Split FAQ: "Therefore, the split shares are transferred to the buyers by means of "due bills"."

      http://www.thecoca-colacompany.com/contactus/faq/stock-split-faq.html#9

      "I'm confident that Fidelity knows what they are talking about because this isn't their first rodeo."

      Your misplaced confidence isn't letting you see the truth. It's not the NYSE's first rodeo either. Why don't you do yourself a favor and ask your rep at Fidelity why the NYSE says Fidelity is wrong and see what they say. Or, more accurately, see how fast they do an about-face.

 
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