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iF YOU OWN 500 PGN WHICH PAYS $2.48/SH OR TOTAL OF $1240 YOU WILL GET 2.6125 OF D FOR EACH PGN SHARE YOU HOLD, IN THIS CASE 1306 SHS OF D WHICH PAY $1.97/SH OR $2573. DOES THIS REALLY SUCK?
DUK pays .975/share, not 1.97, so your math is off by one-half.DUK has said that the dividend will increase 3% for PGN holders.
Not so fast: the div/share of DUK will be adjusted after the share issuance. I believe there's already a dividend rate projected post-merger that gives PGN holders about a 3% premium over the current payout.It's not the bonanza you have suggested!