"What is the last date you can buy and get the $38 special divi?"
"Is "return on capital treated as a capital gain?"
No, return of capital is a tax-free event. However, return of capital reduces your basis in the stock, so there will be more capital gains taxes to be paid when you sell, unless you sell for a loss, in which case there will be less of a capital loss.
AOL did the same,,,,,, I prefer the Dividend rate of 15%, this stinks as AOL announced this just last week! So the same here, return on capital? I was not aware. I mean a great payout. From the lawsuit won earlier in the year, paying out 90%, the executives I am sure will make out. Not a lot of insider ownership, look and you see al selling after the win. Worries me a little.....