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Gold/Mining/Energy : Chesapeake Energy CHK
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To: Ed Ajootian who wrote (590)12/29/1999 4:21:00 AM
From: John Romeo  Read Replies (1) of 726
 
Ed, my understanding is once a preferred,or any stock, goes x dividend, the amount of the dividend(s) accrued will be marked down by the specialist in the price of the preferred the following morning. This is by rule.
Now that does not prevent market forces from going in at the open and bidding up the price of the preferred following the ex dividend date.
Otherwise you will see the preferred price lowered by the size of the dividend.
JR
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