NortonLifeLock Inc. (NLOK)

[Magnum7419]

I agree but feel we hit a great home run. Monday the dividend is paid !! and share price is still above my entry :)

[not one red cent ~NORC~]

Most confusing dates for a dividend announcement I have ever seen.

[Magnum7419]

NortonLifeLock Declares $12 Special Dividend
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NortonLifeLock (NASDAQ:NLOK)
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1 Month : From Dec 2019 to Jan 2020

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Company to Return Over 100% of the After-Tax Proceeds from Sale of Enterprise Assets

Company to Announce Fiscal Third Quarter 2020 Results on February 6, 2020

NortonLifeLock (NASDAQ: NLOK) (the “Company”) today announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock Inc. common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date.

[not one red cent ~NORC~]

I dont think it will drop $12. But, if I had a reliable crystal ball I wouldn't be on here ;)

GLTA

[Scotttrader80]

YES! Just waiting on the share price drop by the amount of the special divy to find a low, then ride the sp back up for the remainder of the year.

[Magnum7419]

"Symantec completes sale of assets, changes name to NortonLifeLock
Yesterday, Symantec (SYMC) announced the successful completion of the sale of its Enterprise Security Assets to Broadcom (AVGO) for $10.7B. The company also announced that it has transferred the Symantec brand to Broadcom and changed its name to NortonLifeLock Inc. effective immediately. Beginning today, November 5, 2019, its common stock will trade under the ticker symbol "NLOK" on the Nasdaq stock exchange."

[Magnum7419]

"and the $1.6 billion share repurchase program we recently put in place"

" Additionally, in August 2019, the board authorized a $1.6 billion share repurchase plan to be executed during the transition period as the Company transforms into a standalone, pure-play leader in consumer Cyber Safety.

“With this special dividend, and the $1.6 billion share repurchase program we recently put in place, we are delivering on our goal to return over 100% of the after-tax proceeds from the sale of our Enterprise Security assets to Broadcom," said Vincent Pilette, NortonLifeLock’s CEO. "We remain committed to returning cash to shareholders through dividends as well as share repurchases. With our strong cashflow, we believe we are well positioned to invest in and execute on our strategy to deliver industry leading consumer Cyber Safety solutions worldwide."

https://ih.advfn.com/stock-market/NASDAQ/nortonlifelock-NLOK/stock-news/81500435/nortonlifelock-declares-12-special-dividend

[Magnum7419]

"on Thursday, February 6, 2020. NortonLifeLock will host a conference call that day at 5:00 p.m. ET/ 2:00 p.m. PT"

Fiscal Third Quarter Earnings Call Information

The Company announced that it will release its financial results for its fiscal third quarter 2020, which ended on January 3, 2020, after the U.S. market close on Thursday, February 6, 2020. NortonLifeLock will host a conference call that day at 5:00 p.m. ET/ 2:00 p.m. PT to discuss the results. The news release with the financial results will be accessible from NortonLifeLock’s Investor Relations website prior to the conference call.

Interested parties may access the conference call by dialing [phone] or [phone] and using conference ID 4557269. A live audio webcast of the conference call will also be available through NortonLifeLock's Investor Relations website at http://investor.nortonlifelock.com/investor-relations/events-calendar/

[Magnum7419]

http://groupssa.com/understandingdividenddates.html

[Scotttrader80]

Im hoping NLOK drops $15.00 points to catch the bottom for the ride up during recovery

[Magnum7419]

Now that I re read everything I can find about NLOK's dividend this is how I will play it :

I own 500 share at 27.85 and want to scalp 6k of dividend without losing any principle.... hahaaaaaaaaaaaa

So on the open on Feb 3rd I should have the 6k and can sell NLOK but I bet they open it at a 12 dollar discount.....thus I am screwed unless

they buy back shares ...which they are doing (1.6 billion $$)


and to add some fire on Feb 6th they file their latest quarterly............

My greed and fear will be in high gear :)

[Magnum7419]

"the share price will almost always fall at least the amount of the per share price of the dividend if not more on the day after the ex-dividend date, thus eliminating any potential gain."

https://www.marketbeat.com/dividends/special/

[Magnum7419]

What effect do special dividends have on a company’s stock price?

By choosing to issue a special dividend, a company is electing to use their excess cash to pay shareholders, which will reduce the value of the company. So even though a special dividend is generally seen as a sign of financial health, it can have a negative impact on a company’s stock.

Like a regular dividend, there is an ex-dividend date that applies to special dividends. However, since the amount of a special dividend can be a significant percentage of a company's stock price, it could lead to market disruption by having a company's share price fall to the point where stop-loss orders or margin calls are triggered. For this reason, the ex-dividend date is adjusted by the particular stock exchange the company is trading on using a "due bill" document.

The impact of a special dividend on a company’s stock price is that the company’s stock will fall by approximately the same amount of the special dividend on the day after its ex-dividend date. For this reason, it’s typically not a sound investment strategy to buy shares of a company in order to capture the extra dividend.

[Magnum7419]

"Because the value of the special dividend can have a significant impact on a company’s share price, the way the ex-dividend date is calculated is different and is established by the rules of the particular exchange the stock is traded on. Special dividends are also subtracted from a company’s regular dividends when calculating their dividend per share value."


https://www.marketbeat.com/dividends/special/

[Magnum7419]

The 1.6 billion share repurchase SHOULD stablize the share price as the 12 dollar dividend is received IMHO

"This special dividend is in addition to the Company’s regular quarterly cash dividend of $0.125 per share that was last paid on December 18, 2019. Additionally, in August 2019, the board authorized a $1.6 billion share repurchase plan to be executed during the transition period as the Company transforms into a standalone, pure-play leader in consumer Cyber Safety.

“With this special dividend, and the $1.6 billion share repurchase program we recently put in place, we are delivering on our goal to return over 100% of the after-tax proceeds from the sale of our Enterprise Security assets to Broadcom," said Vincent Pilette, NortonLifeLock’s CEO. "We remain committed to returning cash to shareholders through dividends as well as share repurchases. With our strong cashflow, we believe we are well positioned to invest in and execute on our strategy to deliver industry leading consumer Cyber Safety solutions worldwide."

[Magnum7419]

aren't we all

naysayers think the share price will drop 12 bucks after the dividend but I dont think so

Imagine owning it and not knowing about the dividend

[dannyzee84]

Hello all, I am in for special divi — I am curious to see how this all plays out

[not one red cent ~NORC~]

I sent an email to IR. No response yet. There is either an explanation that will be a learning experience for me, or they simply put the wrong ex-dividend date on their press release.

I did talk to my Fidelity rep. He believes that they stated it this way to protect the share price from being manipulated too much (up or down).

Hopefully that is true and if the price doesn't end up dropping, then I will wish I had bought more. Hindsight is 20/20


But still doesn't explain an "ex-dividend" date being later than the "record" date. Everything I have researched says this is impossible to have because ex-divi dates are always 2-3 days before the record date.

[Magnum7419]

The real question is : Will the share price drop by 12.00 a share ? after the dividend is received ?

If it was an ordinary dividend I would say yes !!! but' this a special dividend IMHO

I am a gambler and hope to make 6k in feb from dividend and sell NLOK to recoup initial costs ......

If I am wrong I will wait till the share price returns to 16.00 a share and sell it as a wash............imho

[Magnum7419]

It is confusing and all I can suggest is hold thru Feb 3rd

Their next quarterly is Feb 6th which maybe worth the wait IMHO


"The ex-dividend date is normally two business days before the record date. If you purchase a stock on or after its ex-dividend date, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you will get the dividend.Jun 6, 2019"

https://www.google.com/search?client=avg&q=The+ex-dividend+date

[not one red cent ~NORC~]

Anyone understand the dates? I'm a bit confused that the the ex-dividend date is AFTER the record date and AFTER the pay date.

The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date.

[Magnum7419]

Usually it takes 3 days for the trade to settle IMHO

To be safe I will call TDA :)

[not one red cent ~NORC~]

Your purchase has to settle by that date. It used to be 3 days to settle, but they changed it to 2 days a few years ago.

Washington D.C., March 22, 2017 —

The Securities and Exchange Commission today adopted an amendment to shorten by one business day the standard settlement cycle for most broker-dealer securities transactions. Currently, the standard settlement cycle for these transactions is three business days, known as T+3. The amended rule shortens the settlement cycle to two business days, T+2.

The amended rule is designed to enhance efficiency, reduce risk, and ensure a coordinated and expeditious transition by market participants to a shortened standard settlement cycle.

[not one red cent ~NORC~]

Ahh good point. Man these holidays sneak up fast.

[meffoos]

Markets closed Monday in honor of MLK Day

[meffoos]

How do you figure today is the last day? Why would it not be on the 23rd, like the PR states?

[not one red cent ~NORC~]

I believe Monday or Tuesday will be the last day. I'd go with Monday to play it safe.

[Magnum7419]

Is today the last day to buy to qualify as a shareholder for the dividend?

"NortonLifeLock (NASDAQ: NLOK) (the “Company”) today announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock Inc. common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date."


NortonLifeLock Declares $12 Special Dividend
Date : 01/09/2020 @ 4:15PM
Source : Business Wire
Stock : NortonLifeLock Inc (NLOK)
Quote : 27.75 0.25 (0.91%) @ 10:58AM
NortonLifeLock Declares $12 Special Dividend
Print
Alert
NortonLifeLock (NASDAQ:NLOK)
Historical Stock Chart
1 Month : From Dec 2019 to Jan 2020

Click Here for more NortonLifeLock Charts.
Company to Return Over 100% of the After-Tax Proceeds from Sale of Enterprise Assets

Company to Announce Fiscal Third Quarter 2020 Results on February 6, 2020

NortonLifeLock (NASDAQ: NLOK) (the “Company”) today announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock Inc. common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date.

This special dividend is in addition to the Company’s regular quarterly cash dividend of $0.125 per share that was last paid on December 18, 2019. Additionally, in August 2019, the board authorized a $1.6 billion share repurchase plan to be executed during the transition period as the Company transforms into a standalone, pure-play leader in consumer Cyber Safety.

“With this special dividend, and the $1.6 billion share repurchase program we recently put in place, we are delivering on our goal to return over 100% of the after-tax proceeds from the sale of our Enterprise Security assets to Broadcom," said Vincent Pilette, NortonLifeLock’s CEO. "We remain committed to returning cash to shareholders through dividends as well as share repurchases. With our strong cashflow, we believe we are well positioned to invest in and execute on our strategy to deliver industry leading consumer Cyber Safety solutions worldwide."

Fiscal Third Quarter Earnings Call Information

The Company announced that it will release its financial results for its fiscal third quarter 2020, which ended on January 3, 2020, after the U.S. market close on Thursday, February 6, 2020. NortonLifeLock will host a conference call that day at 5:00 p.m. ET/ 2:00 p.m. PT to discuss the results. The news release with the financial results will be accessible from NortonLifeLock’s Investor Relations website prior to the conference call.

Interested parties may access the conference call by dialing [phone] or [phone] and using conf

[Magnum7419]

Bought 150 shares as an investment. Great opportunity and the share price should not fall to far for very long IMHO as this dividend is not directly tied to it IMHO......

Even if it is......NLOK is certainly worth 16.00 a share having a Market cap of 17 BILLION IMHO

[not one red cent ~NORC~]

Sure. Here is the one from Yahoo. There is also one just above these messages in the iHUB links.

$12 per share special dividend. Thats pretty huge so I'm curious what will happen after the dust settles. I'm sure the pps will drop but how much?

https://finance.yahoo.com/news/nortonlifelock-declares-12-special-dividend-211500488.html

[Damascus]

Do you have any info on it you could post a link to or anything? Tia

[not one red cent ~NORC~]

Anyone out there eyeballing that special dividend?