I called PZN today a asked for Doc. Jr. promply called back. Special dividend has already paid $1.80 per share this year. Balance must be paid by Dec 31, 1999. The remaining regular dividend can be paid by Jan. 31, 2000. This gives PZN a 30 day repreve. If all dividends are not paid by Jan 31, 2000 a surcharge penalty of 4% of unpaid dividend is assessed. I believe this penalty is payable to IRS but I'm not sure.
Also JR. said that PZN legal counsel advised that there be no question and answer session as Merrill Lynch is working very hard on this project.
Finally, Merrill Lynch beat out Lehman for the work.
In conclusion, I was happy to receive a call back. I do believe they will finally get their act together.