AmBase Corporation (ABCP)

[joethebow]

No, you would not have collected the dividend. Dividends have two dates, the record date and the payout date. Usually the record date is at the end of trading that day, whether or not you held shares. That's why it dropped the next day, as anyone trading the shares then were not entitled to the dividend and the record date had already been recorded with shareholders as of the previous day's close.

Effectively, as of that close... the $2 value was "paid out" on paper.

As for why the stock is still above $1.00, here is a pretty good summary: http://seekingalpha.com/article/1533582-ambase-market-reaction-to-real-estate-deal-misguided