For anyone still unclear about the dividend, just call the Nasdaq at 203-926-3501, select option 2.
If you still think you are getting a dividend if you buy gyro stock, at this point you should not be listening to people on a message board, you should call the Nasdaq and find out for yourself. Ask them if gyro is trading with due bills today or on Dec 31st. They will say no. Ask them what date you had to buy gyro to be entitled to the dividend of the security which the company is valuing at $10.89. They will say Dec. 26th.
On Dec. 26th, this $10.89 security did not represent 25% of the value of Gyrodyne, so gyro is not trading with due bills. The Nasdaq will confirm this. Ask them if you buy or sell Gyro today if you are buying or selling the right to receive any dividend. They will say no. Remember, the $10.89 security is the value per share the company placed on the note the security holds. This is going to be converted later this year, to 1.92 shares of gyro, since the value the company believes gyro is worth is $5.70 per share (it is worth a little more now, but there will be expenses that gyro has to pay for like employee comp, overhead, etc, before the merger takes place).
"On Dec. 26th, this $10.89 security did not represent 25% of the value of Gyrodyne"
The NASDAQ already knew that as of the record date of Dec 31 for the 10.89 distribution, the stock price would be reduced by about the amount of the 45.86 distribution, so 10.89 would indeed be well in excess of 25% of the share price.
You're still not explaining why it in fact did not adjust for the 10.89 on Dec 27th. Or why no reporting agency, not even the NASDAQ itself, ever listed Dec 27th as the ex-date for the 10.89.