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Mastech Holdings, Inc. Message Board

  • ednasteininger ednasteininger Jan 2, 2013 6:38 PM Flag

    special $2 dividend

    What is the confusion about the ex date; the press release said paid on 12/21/12 to holders of record at the close on 12/20/12. ETrade says that is wrong the ex date is the 24th, either the press date is wrong or ETrade is wrong!!! Now what happens???

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    • "either the press date is wrong or ETrade is wrong!!!"

      No, both are right; you are the one who is wrong.

      First, the press release doesn't even mention the ex-date. It mentions only the record and payment dates. That's why etrade's statement doesn't conflict with the press release.

      Second, the ex-date was indeed December 24th, so etrade was right.

      Because the dividend was more than 25% of the stock's price, stock exchanges rules require the ex-date to be the first business day after the payment date. That's why the 24th was the ex-date.

      "What is the confusion about the ex date"

      The confusion is that you probably haven't before seen a case where the ex-date was after the payment date.

 
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