Houston Natural Resources Corp (HNRC)

[Wayne R]

And since it is not a cash dividend, doesn't it set the ex-dividend date as 1 business day AFTER the payment date? In other words, I'd have to hold on to these until May 29th?

No, the ex-dividend should be before the payment date. Record date could be a month before the ex-dividend date, in the meantime the stock trades with due bills until the ex-date.

In this case, there is no ex-dividend date, just shareholders of record as of today, which means you needed to buy the 25th to be one.

Theoretically, or in normal practice in the stock market, you could sell today, or to be sure, sell monday and still be eligible for the worthless spinoff.

Disclaimer; I'm getting on in age and my posts might be the first signs of dementia