Thursday, July 19, 2018 12:17:14 PM
USUALLY, before brokerages pay out a cash dividend, they have to have the cash from the company FIRST.
But in this case, the DTC Agent of the brokerages notified them that a .10/share dividend was due to FAGI Shareholders.
So they went ahead and paid the shareholders a Cash Divvy based on the info from their official DTC Contact.
And now they're taking it back.
This is all from a long convo with compliance at TDAmeritrade.
Realize though that the company NEVER authorized a .10/share cash divvy.
If you remember it was SUPPOSED to be a 1 for 10 SHARE dividend.
z
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