Got this from Scottrade:
The default election (if no election is made) for the optional dividend from BP Amoco is cash at a rate of $0.48. No further action is required on your part to receive the cash dividend of $0.48. The pay date for the cash dividend is 06/27. We will post the $XXX to your account as soon as we receive funds from the paying company.
I've been with Scottrade for almost 10 years now. And I know that they are always the slowest when it comes to posting post-split shares. I'll be opening a Fidelity account sometime this year. - Looking for a good promotion ;)
Ruskies are buying BP's oil fields in Venezuela, I believe. And TNK-BP is already under a Russian control.
(Reuters) - Shareholders have sued the board of BP Plc (BP.L) for failing to monitor safety and exposing the company to potentially enormous liability related to the Deepwater spill disaster in the Gulf of Mexico, according to court documents.
"The Deepwater disaster will cause financial consequences to BP and the BP subsidiaries, which will be tabulated in the billions of dollars, including liability for damage to property, commercial interests and wildlife," said the complaint.
The complaint said the disaster has wiped about $40 billion from BP's market value.
The lawsuit was brought on behalf of shareholders by individual investor Robert Freedman and the Southeastern Pennsylvania Transportation Authority, or SEPTA, which runs Philadelphia's regional public transit and owns BP's American Depository Shares.
The plaintiffs are seeking damages as well as seeking to direct the board to take steps to improve corporate governance, such as limiting the number of inside directors and setting up an environmental exposure oversight committee.
Where can I read more about Goldman's price target? I only found yesterday's news that small oil and gas producers sue BP and Goldman Sachs for oil fraud.
Here's what I heard from Scottrade back on February 23, 2010:
Re. stock symbol / cusip - VIP / 68370R109:
The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 04/15/2010.
If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date listed above, and a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender takes place. Please note that the expiration date for such actions is often extended and terms of the offer are subject to change.
Scottrade is not endorsing or recommending the offer, and the terms have not been reviewed to determine if accepting the offer would be in your best interest. If you do not wish to participate in this offer, notification is not required and Scottrade will take no action on your behalf.
I agree with what you say about VIP prospects. But MBT (MTS) isn't too bad, either. It's a powerful cash machine, too.
Guys, did you notice that yesterday Goldman Sachs recommended its clients to buy Russian equities to benefit from ruble strength?
S&P MAINTAINS HOLD OPINION ON ADSS OF VIMPEL COMMUNICATIONS
Thursday 03/18/2010 10:00 AM ET - Standard & Poor's Research Notes
VIP posts Q4 earnings per ADS of $0.26 vs. $0.37 loss, below our $0.41 estimate, on a 5% sequential sales decline and higher SG&A expenses.
Looking ahead to 2010, we remain positive on the pending asset combination of private Ukraine operator Kyivstar, given our view that it will improve the financial profile of VIP, with higher EBITDA and operating cash flow for the combined entity. We also think VIP is improving its broadband services position, an area we see as a key driver of growth.
On enterprise value-to-EBITDA analysis, we keep our 12-month target price at $21.
I bought 1,000 of those ;) Got in at 17.89. Right now I'm thinking I should have bought 10,000 or - better yet - 100,000 sh.
Sounds weird as the vast majority of Russian cell phone users have never seen a bill. I'd think 99% of people are on pre-paid plans. No bills are usually provided.