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Technology Stocks : Nortel Networks (NT)
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To: Bosco who wrote (3205)8/13/1999 10:50:00 AM
From: Martin Goldenberg  Read Replies (1) of 14638
 
Hi Bosco, thought everyone knew why Nortel Networks adopted the stock dividend split approach.

Essentially, tax payers in both the US and Canada will not be paying any taxes on teh stock dividend and doing this is considered equivalent to a 2 for 1 stock split.

The reason for the dividend stock split approach is that it did not require the Nortel Networks board of directors approval. A required vote would have delayed the split. (I believe you pretty much said this in your last posting.)

Regards,
Martin
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