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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Jim Bishop who started this subject4/16/2001 6:35:22 PM
From: jmhollen   of 150070
 
Looks like McCleod could possibly be an "..event driven.." item for TGL consideration.

McLeodUSA Incorporated Announces Quarterly Dividend On Series A Preferred Stock

CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--April 16, 2001--McLeodUSA Incorporated (Nasdaq:MCLD), one of the nation's top telecommunications providers, today announced it has declared a regular quarterly dividend on its 6.75 percent Series A Cumulative Convertible Preferred Stock.

The dividend is payable in shares of the Company's Class A Common Stock at a rate of $4.21875 per share of Series A Preferred Stock owned, with fractional shares to be paid in cash. The shares of Class A Common Stock to be issued will be valued based on the average daily closing price of the Class A Common Stock for the five consecutive trading days ending on, and including May 9, 2001. The dividend is payable on May 15, 2001 to stockholders of record as of April 27, 2001.

With the tremendous reserves sitting on the side lines, some of the higher share-price players might consider buying that dividend, if the numbers are right; which could make both the preferred and common stock go up.

Things that make you go, "..Hmmmmmmmmmm..".

John :-)
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