Generex will give a 2 to 5 stock dividend to shareholders paying 2 GNBT shares for every 5 shares held Shareholders to receive an additional 2 to 5 stock dividend of NuGenerex Immuno-Oncology shares New Dates Established for shareholder stock dividend New Pay Date: January 3, 2020 New Ex-Date: January 6, 2020 Record Date remains August 30, 2019
MIRAMAR, Fla., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (“Generex”) today announced revisions to the previously announced share dividend. Generex will now pay the postponed 1:1 dividend at a ratio of 2 to 5; i.e. for every 5 shares of Generex you own on the pay date you get 2 new Generex shares. The new pay date for this 2:5 dividend will be January 3, 2020 with an ex-date of January 6, 2020. Please remember if you sell your shares before the ex-date you will get a pay due bill and your dividend shares will go to the buyer. Conversely, if you buy shares up through the ex-date, you will receive the dividend through the “Pay Due” system and the seller will automatically pay you the dividends through broker to broker transfer.
As part of the dividend restructuring, Generex will also pay a new stock dividend of 2 to 5 in NuGenerex Immuno-Oncology shares; i.e. for every 5 shares of Generex Stock you own you will receive two shares of NuGenerex Immuno-Oncology (NGIO). This dividend will also be paid on January 3, 2020 with the ex-date of January 6, 2020. NGIO, a majority owned subsidiary of Generex, is being spun out of the parent company to form a new, publicly traded oncology company focused on modulation of the immune system to treat cancer. Generex management is in the process of filing the requisite legal documents, conducting the necessary 2-year audits, preparing the S1 filing, and planning to initiate operations as a new public company.
So if you own 1000 shares of GNBT bought before Aug 30th you will get 400 extra shares equaling 1400 and 400 NGIO shares.
Lets say again you have been holding the 1000 shares since before August and with the steep decline you will at least get some of your investment back for holding.
Also the company is actively pursuing "insider trading activity by funds" which could be beneficial for the little guy shareholder.
The share price is now much closer to a bottom currently in case this person decides to add.
