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Providian Financial Corp (PVN) Message Board

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  • contrarianbs contrarianbs Sep 1, 2005 10:21 AM Flag

    Will WM screw us out of dividend

    After presenting this same question to Vuoto yesterday and watching his eyes bounce around the room and nervous body language I would say no. The ambiguous answer stated that we are closing on October 1 and it will be before WMs divi release. When asked again will PVN shareholders receive divi; "nothing is ever a guarantee".

    I would imagine there is an escape clause that states you would have had to own the stock for x days before receiving dividend. It should be worth a call to WM IR

    The same with Saunders when I asked if WAMU was now the owner of the 1Q debt sale. He stated WM did not buy the debt. I asked again; do you know if WM currently owns the debt? No answer and went to another question.

    Americredit could have laundered the purchase. I don't think you are stupid.
    (thought not statement)


    http://www.forbes.com/finance/mktguideapps/personinfo/FromMktGuideIdPersonTearsh
    eet.jhtml?passedMktGuideId=199773


    It is my understanding that all the unexercisable are now exercisable. Great job JS.

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    • <I would imagine there is an escape clause that states you would have had to own the stock for x days before receiving dividend. It should be worth a call to WM IR>

      See post 118150. That explains it. No escape clause. You obviously don't own any dividend stocks.

      <It is my understanding that all the unexercisable are now exercisable. Great job JS.>

      Not true. Not exercisable until after the close.

    • IMHO it is extremely important that the exchange date be prior to one day prior to the exdividend date. Typically a stock drops once it goes exdividend, due the the intrinisic value of the dividend distribution.

      The exdividend date is explained as follows:

      Exdividend date is the date starting when the dividend is credited to the share holder. If you own the shares at the market close of the day before the exdividend date, then you will be credited the distribution regardless of whether you sell the stock on market open the next day or thereafter.

      Dividends are typically paid 2 weeks to a month thereafter.

      • 1 Reply to stcksnmore
      • The way the dividend works is if you are a shareholder of record at the end of Oct. then the dividend will be payable to you on Nov. 15th.

        If the deal closes Oct. 1, then you will be a shareholder of record at the end of the month and will get a dividend. No problem on ex-dividend issue either as it will be 4 weeks after the close.