Replies to post #57545 on DD Support Board and Research Team

[janice shell]

I've seen companies try to set record dates months in the past, and they've been refused. But December isn't so long ago, so I don't know what they'll do.

I haven't been following, but my guess would be that they've been "discussing" it with FINRA for awhile now. FINRA has the right to ask for more documentation, and if they want they can tie things up for a long time.

[236T568]

calm down again

the official record date has not been set yet

'Evidently' because of the wording in today's company PR?

If they do process it, can it really be retroactive as the company has implied with a record date of December xx?

[CGardener]

dividend record dates are a matter of state law. stock dividends don't have to be approved by shareholders under state law. all of the state laws I'm familiar with do NOT allow a dividend record date to precede the board's action setting a record date. (in other words, if the board resolution was dated TODAY the record date could not be YESTERDAY). the question is whther you can set a record date before you inform FINRA/file the necessary FINRA paperwork. most practitioners I know of believe the answer is "yes".

all that being said, in looking at the terminology they use in the PRs it's hard to tell what they have/haven't done in terms of actually setting a record date. they mix a number of concepts.