Lehman Brothers Financial SA (LEHNQ)

[hestheman]

If distributions are deferred, the deferred distributions on such distributions would be paid to holders of record of the preferred securities as they appear on the securities register of the trust on the record date following the termination of the deferral period. The way I interpret this is that if the securities register shows you purchased shares at a certain date, you will only receive dividends from the dates at which you purchased them. While the former owners/sellers of the stock will not receive those dividends, most likely those dividends will go back into company/trust (most times in a trading stock if the dividend does not go to the buyer or seller then the unpaid dividend value will reflect in the PPS of the stock) In this case, the money will most likely just go back to the company.