Generex Biotechnology Announces Update to the Previously Declared 1:1 Stock Dividend
8:00 AM ET, 08/12/2019 - GlobeNewswire
Filing of up-list application to NasdaqNew Dates Established for 1:1 Shareholder stock dividend New Record Date: August 30, 2019Pay Date: October 30, 2019Ex-Date: October 31, 2019Dividend to be Paid to show Appreciation to our Shareholders
MIRAMAR, Fla., Aug. 12, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced that it was proceeding with the dividend in anticipation of listing on Nasdaq. Therefore, Generex plans to reward Generex’s loyal shareholders by announcing a new Record Date of August 30, 2019, along with a Pay Date of October 30, 2019, with the Ex-Date of October 31, 2019, for the payment of the 1:1 stock dividend to shareholders. The Company remains optimistic in its ability to list on Nasdaq and with the confusion by the shareholders on the pay date, Generex wanted to provide its shareholders with a definitive Pay Date.
Joseph Moscato, Generex President & Chief Executive Officer stated, “With this definitive Pay Date, Generex is able to reward our shareholders with a 1:1 dividend and provide the market with certainty on the timing of the 1:1 stock dividend payment.
Mr. Moscato continued, “We hope to provide our shareholders with transparency and greater certainty as we continue to execute on our strategic plan to build a new model for healthcare. Thanks again to our GNBT shareholders for whom we work every day to achieve our goals and build value for Generex.”
Note that GNBT shareholders who hold shares on August 30, 2019 are entitled to receive the 1:1 stock dividend to be paid on October 30, 2019. If shareholders sell their shares between August 30th and October 31st, the rights to the dividend will be transferred to the buyer.
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