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Magal Security Systems Ltd. Message Board

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  • iamsmart1012 iamsmart1012 Jul 27, 2004 2:49 PM Flag


    You must not be a shareholder then or your brokerage firm has made a mistake. My broker increased my shares held by 5% last night and the have today as ex-div date, then 29th as the rec date and Aug 9th as the pay date.

    My broker is Goldman Sachs, the biggest and the best so I trust they are correct. I am a very large MAGS shareholder and did receive 5% additional shares overnight. Stock dividends are paid on the ex-div date. They are not like cash dividends which are issued on the pay date becuse the value can change.

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    • aren't the dividends paid to stockholders of record which is the 29th.also the dividend has not even been voted on broker schwab has not adjusted my acct.i hope i am wrong.

      • 1 Reply to seemefish
      • Do you have your ""Notice of annual general meeting of shareholders"? Page 9 section V. paragrapgh 2. At a meeting held on April 28, 2004, our board of directors declared a 5% share dividend, payable to holders of our ordinary shares as of July 29, 2004, as a final dividend for the year ended december 31, 2003.

        The 29th is the settlement date for all stock holders at the close yesterday.

        The next paragrapgh explain a .05 cent per shares dividend was issued as an interm dividend. It looks like the June 29th date in the "RESOLVED" section is a mistake and should read July 29th.

        I hope this clears things up a little.

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