Generex Announces REVISED Record & Payment Dates f
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Posted On: 11/05/2018 8:11:20 AM
Generex Announces REVISED Record & Payment Dates for 20:1 Stock Dividend
8:00 AM ET, 11/05/2018 - Business Wire
MIRAMAR, Fla.--(BUSINESS WIRE)--Nov. 5, 2018-- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that it has REVISED the record and payment dates for the previously announced 20:1 common stock dividend.
Due to a substantial number of inquiries from investors over the past several days, the Record Date for the determination of the holders of the Company’s common stock entitled to participate in the Company’s 20:1 common stock dividend will now be Friday, November 9, 2018. The dividend Payment Date will be Monday, November 19, 2018.
The Company believes that the ex-dividend date will be Tuesday, November 20, 2018 by application of FINRA Uniform Practice Code section 11140(b)(2) because the dividend is greater than 25 percent of the value of the Company’s common stock. In addition, effective September 5, 2017, the U.S. Securities and Exchange Commission shortened the settlement cycle for transactions in U.S. equities from trade date plus three business days (T+3) to T+2 (Rule 15c6-1(a) under the Securities Exchange Act of 1934 (17 CFR 240)). Common stock acquired in trades settled prior to the ex-dividend date will be entitled to receive the dividend.
The stock dividend will result in 20 shares of common stock paid for every one share of common stock owned.
This press release does not constitute legal advice.Investors are encouraged to solicit independent legal advice and to consult their independent investment brokerage firms as to record, payment, and ex-dividend dates and the application thereof to trades in the Company’s common stock in the context of the stock dividend
8:00 AM ET, 11/05/2018 - Business Wire
MIRAMAR, Fla.--(BUSINESS WIRE)--Nov. 5, 2018-- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that it has REVISED the record and payment dates for the previously announced 20:1 common stock dividend.
Due to a substantial number of inquiries from investors over the past several days, the Record Date for the determination of the holders of the Company’s common stock entitled to participate in the Company’s 20:1 common stock dividend will now be Friday, November 9, 2018. The dividend Payment Date will be Monday, November 19, 2018.
The Company believes that the ex-dividend date will be Tuesday, November 20, 2018 by application of FINRA Uniform Practice Code section 11140(b)(2) because the dividend is greater than 25 percent of the value of the Company’s common stock. In addition, effective September 5, 2017, the U.S. Securities and Exchange Commission shortened the settlement cycle for transactions in U.S. equities from trade date plus three business days (T+3) to T+2 (Rule 15c6-1(a) under the Securities Exchange Act of 1934 (17 CFR 240)). Common stock acquired in trades settled prior to the ex-dividend date will be entitled to receive the dividend.
The stock dividend will result in 20 shares of common stock paid for every one share of common stock owned.
This press release does not constitute legal advice.Investors are encouraged to solicit independent legal advice and to consult their independent investment brokerage firms as to record, payment, and ex-dividend dates and the application thereof to trades in the Company’s common stock in the context of the stock dividend
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