Wednesday, December 06, 2006 10:58:11 AM
I read that you can't pay a divi if you don't physically own the stock. That means shorts have to cover and I believe there were a bunch of them when we reached .02. Now the price has dropped enough for them to have covered but I still believe many have not.
One question that has been rolling in my head. To be the owner of the stock on December 15th and to have it show in your account do you need to buy it by the close of trading on the 12th? When I was researching the divi to be the owner of record for December 1 you needed to have purchased the stock and have it at the close of trading on November 28. T + 3. Wouldn't that apply to December 15th as well? Just a thought I have had since late November that never really got cleared up!
Thanks
Binzur
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