PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 24.89

+1.0%

3:59 PM EST

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To: Jason Riche who wrote (7940)	6/16/1999 8:13:00 AM
From: Allan B.	Read Replies (2) of 9523

I think the confusing thing about splits is that they give a record date and a date the split takes effect. For most people the record date is not important because they keep their shares in a brokerage account in street name. The brokerage house makes all the adjustments on the night before the split takes effect. The next morning your account should show 3 times the number of shares at one third the value of the pre split price. The phrase they use about the split being effective for holders of record on June 2, I believe, is for people who have shares in book entry or certificate form. This gives the accounting department time to send out paperwork indicating that on the actual split date, they will hold an extra two shares for each share they have. Also, for shares bought in book entry or certificate form bought after the record date they get a form with the addition of the phrase"when issued",meaning that they get the additional shares when issued on the June 30, the split date.

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