OK, let's do the math. On June 30, DD closed at $63.95/share (pre-split price). If you held five shares of DD, they were worth $319.75. Immediately following the distribution, on July 1, DD opened at $61.63/share and CC opened at $16.00/share. You would have five shares of DD and one share of CC in your brokerage account. 5 x $61.63 + 1 x $16.00 = $324.15.
Since then, the combined value of those shares has declined to $316.46, but one could easily say that would have happened whether the split had occurred or not.
Incidentally, this is NOT a dividend, it is a split. A dividend would be taxable income. A split is simply a change in the number of shares for the same assets and is not taxable.
Scottrade is showing the correct cost basis, now. If you pull up the Unrealized Gain/Loss report, you will see a lot of CC shares corresponding to each lot of DD shares you own. The acquired dates are the same and there is one share in each CC lot to every five shares in each corresponding DD lot. That's good--if you had a long-term gain in your DD shares, it is still a long-term gain in the corresponding
lot CC shares.
The cost basis of every lot of CC is equal to 0.04872 times the original cost of the corresponding lot of DD (not including commission), and the cost basis of the lot of DD is equal to 0.95128 times its original cost, plus commission. Naturally, those ratios must add up to 1; for this to be a non-taxable event, the IRS requires that the total cost basis of each pair of corresponding CC and DD lots add up to the original cost basis of the lot of DD.
That seems to work out to a split ratio of 1051:1000, as opposed to the 1053:1000 that Yahoo is reporting. I don't know why there's a difference. Google Finance hasn't figured out that something has happened, yet.
OK, I think I found it. According to the FAQ, "your tax basis in your DuPont common stock held by you immediately prior to the distribution will be allocated between your DuPont common stock and Chemours common stock that you receive in the distribution in proportion to the relative fair market values of each immediately following the distribution." I take that to mean the opening price of DD and CC on 1 July 2015. Using the price of CC-WI shares would give a higher cost basis for CC (and proportionately lower split-adjusted cost basis for the DD shares), but that would be incorrect, since CC-WI shares do not trade following the distribution and DD shareholders do not receive CC-WI shares, they receive CC shares.
According to Yahoo, the opening prices of DD and CC on that date were $61.63 and $16.00, respectively. Assuming no fractional shares (which would be distributed as cash), 5 sh DD @ $61.63 = $308.15 and 1 sh CC @ $16.00 = $16.00 for a total of $324.15. So, the split-adjusted cost basis of any shares of DD would be 308.15/324.15 = 0.9506 of the prior cost basis and the cost basis of the distributed shares of CC would be 16.00/324.15 = 0.04936 of the prior cost basis, regardless of how many shares were held or what the prior cost basis was.
I can access the shares in my Scottrade account this morning (2 July).
Currently trading at $16.45.
I haven't been able to find the exact share prices of DD and CC at the time of the distribution, though. I need that ratio to allocate my cost basis.