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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations!
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To: C. McD who wrote (3468)12/3/1998 10:09:00 PM
From: brad greene  Read Replies (2) of 5847
 
C. McD,

I think I know the plan on the dividend shares.

Shareholders of record (accounting taken on that day by the transfer agent) are entitled to the dividend shares. If they sold the stock the next day.....they still get the dividend shares, while the person who bought them does not....

So the transfer agent knows that the 3 accounts associated with Brad Greene at AG Edwards get x number of dividend shares.

It is my understanding that these shares will be issued beginning on the 7th of December....The "pay" date.....and that it can take up to four days for this to happen. (all of the shares to get into all of the accounts)

So I have told my broker to call me the day he notices that the Anything Internet shares show up in my account. I have instructed him to begin the phone call by shouting..."Yahoo! the shares are here...the shares are here!"

So I believe there is nothing that the dividend shareholder needs to do.......except wait for the event to happen to them.

They should understand that they will receive about 1 share of AI for each 40 shares of BANY held on the dividend date.....and that fractions of a share will not be paid......so someone who had 39 shares of BANY would get nothing....nadda....zip....While someone who had 120,000 shares, would get 3,000.

The value of the dividend shares is not in the price of BANY today....so it is perhaps a bit more joyful for the long termers.....The new holders can take comfort in the knowledge that BANY holds about one share of AI for each 10 shares of BANY issued. So if you hold 120,000 shares of BANY....in a round about way....you own 12,000 shares of Anything Internet.

I hope BANY awards another 200k dividend next year.....and the year after....That would be very shareholder friendly...IMO.

bg
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