Calissio Resources Group Inc (CRGP)

[janice shell]

I commented on it as soon as I began posting about CRGP. I already knew about special divvies because I'd seen another attempt at one back in 2010. And it was larger than this one. And the company, EIGH, didn't begin to have the money to pay for it. Nonetheless, then as with CRGP, FINRA processed the corporate action request.

What was different was that the company cancelled the dividend the day before the ex date. It did that in mid afternoon, after the relative notice had already been published on the Daily List. Etrade wasn't paying attention, and the next day it began paying its clients, though it had received no funds. That day was a Friday. Sometime in the evening they became aware of their mistake, and spent the next four or five days removing the cash from clients' accounts.

That may explain Etrade's actions as to the CRGP dividend.

So I and others did know about the 25% rule, and that it applied to Calissio's dividend. But it still took awhile to figure out how and in what circumstances due bills are attached, or not attached, and what stock qualifies for the dividend.