Wednesday, May 23, 2007 12:15:59 PM
My take on the mail in divy situation....
I have been scratching my head wondering why Don would go down this road with a "mail-in divy". He doesn't ask for any proof of ownership and there would be no way of him verifying shareholder claims since most, if not all, our shares are held in street name.
The only thing I can think of is that Don may be trying to use this personal information of ours to apply pressure to the brokers via the Transfer Agent. We, most of us, will be submitting requests for our divy certs via IR via TA. Because our shares are held in street name and the TA is required to issue certs to directly to shareholders, it will need to verify ownership. The TA will then be looking to brokers for verification, thus, putting brokers in a conundrum. Hmmm....
I have been scratching my head wondering why Don would go down this road with a "mail-in divy". He doesn't ask for any proof of ownership and there would be no way of him verifying shareholder claims since most, if not all, our shares are held in street name.
The only thing I can think of is that Don may be trying to use this personal information of ours to apply pressure to the brokers via the Transfer Agent. We, most of us, will be submitting requests for our divy certs via IR via TA. Because our shares are held in street name and the TA is required to issue certs to directly to shareholders, it will need to verify ownership. The TA will then be looking to brokers for verification, thus, putting brokers in a conundrum. Hmmm....
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