"Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid."
This is a FIASCO !!! It DISTINCTLY said in the ha ha S-1 that if you held shares on Dec. 21, 2011 YOU WOULD GET THE SPIN OFF !!!!!!!!!!! It said NOTHING about you had to hold your KATX until the Ex Date was announced. Can you say HIGHLY HIGHLY AMBIGUOUS ?? These dopes are very very incompetent and they keep proving it. And usafa was one of the few who stuck to this scenario. And now - here we are. WHAT A JOKE !!!!!!!!!!!!!!!!
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