Brilliant deduction on the amount of dividends to be distributed. I seem to have pointed this out in the beginning of September. A simple telephone call to the T/A made me aware that the diviy was not based on the entire amount of available shares to be distributed.
You're about a month late on your findings.
Posted by: VooDooman In reply to: AlGee57 who wrote msg# 93131 Date:9/8/2004 1:11:40 PM Post #of 104784
cim divy not based on all 40 billion shares. Probably be less than 20 billion CIM divided up
This post is in response to Dr.D's post that Sugarpaw brought to our board. Thanks to sugarpaw and bluediamonds for sniffing out revelvant posts to bring to our board.
However, this is the second post by Dr.D. in the last few days which have points which are unequivocally not correct. I wish to be clear that it's not my opinion from which I speak. It's simple that the points he has posted are simply not accurate at all. It's because they are important points that I'm bringing them to the board's attention.
Within this post he is assuming the UCAD dividend payout last week was a 'partial' payout, and that he feels the rate of this dividend payout will go up significatly. He also states CIM's dividend may be the same.
Friends...the dividend payout of the UCAD's shares are a full and complete payment of the declared dividends to the CMKX shareholders of record back in August. Also, the dividends of CIM will be a full and complete payment of dividends to the CMKX shareholders as of the date of record.
Further, it wasn't in this post, but he states in another post that shareholders have to hold their shares during the entire period between the date of record and payment date to actually be paid.
This is simply not true at all.
I knew the answers to all of the above prior to me calling Ameritrade and First Global today, but I wanted to have their confirming word of what I knew to be true.
Very simply, it is what it is... UCAD's dividend was fully paid in accordance with the declaration of the dividend. There simply is no partial payments occurring.
Next, For GEMM and CIM, those CMKX SHAREHOLDERS OF RECORD ON THE SPECIFIED DATES will be the ones FULLY paid upon the specified payment dates. A shareholder who sold all of their shares 1 day after the date of record for either dividend WILL STILL GET THE STOCK DIVIDEND. There is NO requirement to hold CMKX during the entire time b/w date of record or payment to get the dividend. Neither I, Ameritrade or First Global ever heard of any instance where this has been so for ANY stock.
Finally, with regard to the UCAD dividend, many people at the date of record held their CMKX shares in certificate form. Thus, for example on my brokerage account the amount of UCAD shares showing only reflects what was held in street name by my broker. Rest assurred that First Global will be sending out the UCAD dividend confirmations to those who held CMKX in certificate form on the date of record. They said this would take a week to 10 days.
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