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Non-Tech : Comcast Corporation (CMCSA)
CMCSA 27.95+1.8%Nov 5 3:59 PM EST
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To: Ray Martin who wrote (50)5/9/1999 1:17:00 AM
From: David C. Burns  Read Replies (1) of 189
 
I have found that following the split of Comcast, my account shows I have the same number of shares of CMCSA and I have received a distribution of an equal amount of CMCSK. I believe the Ks are classified as non voting right shares. The odd think is the Ks closed a little more than 2 1/2 points above CMCSA on Friday. What's driving the price of these stocks to differ. Its unusual to me to see a split work like this.

It's a 100% stock dividend where all the dividend shares are the non-voting variety regardless of whether the base shares are voting or non-voting.

You have to remember that Comcast is a cozy family business with the Roberts family and their ilk retaining a virtual lock on the company voting rights. This way, they don't dilute their control.

The two classes have almost always traded as slightly different prices - I usually attributed the difference to the lack of voting rights associated with the CMCSK version, but perhaps the amount of float in each class has more impact.
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