This February 7th PR has no hint that the two divi
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Posted On: 02/26/2020 3:37:10 PM
Re: OrlandoJohn #13180
This February 7th PR has no hint that the two dividends would be treated differently.
https://finance.yahoo.com/news/generex-declar...10948.html
EX DATE: Tuesday, February 25, 2020
MIRAMAR, Fla., Feb. 07, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (“Generex”) is pleased to announce the successful completion of the FINRA review process for the dividend. After an exhaustive and long review, FINRA has determined that the original August 30 record date is too long ago to adequately track all the pay due bills from stock being bought and sold by investors, so a new record date of February 17th, 2020 has been established. This will insure everyone who has bought stock since August and retains the stock will receive the dividend not by way of a Pay Due Bill, but rather, directly from Generex. Those who sold stock after the original record date need not worry about anything as they were formally entitled to receive the dividend, but they would have had to transfer the dividend to the buyer of their shares. With the new February 17th record date being established, those who are entitled to receive the 5/2 stock dividend in Generex and the 5/2 stock dividend in NuGenerex Immuno-Oncology will receive it directly from the company .
In addition, the pay date is now February 24th and ex-date is February 25th. If a shareholder sells the stock after the record date the pay due bill process will be in full effect and the shareholder will be required to transfer the dividend stock to the buyer. The ex-date rule in this situation is found in FINRA Rules Section 11140 (b)(2), which reads as follows: “(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.” As always, speak to your financial advisor for more information.
https://finance.yahoo.com/news/generex-declar...10948.html
EX DATE: Tuesday, February 25, 2020
MIRAMAR, Fla., Feb. 07, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (“Generex”) is pleased to announce the successful completion of the FINRA review process for the dividend. After an exhaustive and long review, FINRA has determined that the original August 30 record date is too long ago to adequately track all the pay due bills from stock being bought and sold by investors, so a new record date of February 17th, 2020 has been established. This will insure everyone who has bought stock since August and retains the stock will receive the dividend not by way of a Pay Due Bill, but rather, directly from Generex. Those who sold stock after the original record date need not worry about anything as they were formally entitled to receive the dividend, but they would have had to transfer the dividend to the buyer of their shares. With the new February 17th record date being established, those who are entitled to receive the 5/2 stock dividend in Generex and the 5/2 stock dividend in NuGenerex Immuno-Oncology will receive it directly from the company .
In addition, the pay date is now February 24th and ex-date is February 25th. If a shareholder sells the stock after the record date the pay due bill process will be in full effect and the shareholder will be required to transfer the dividend stock to the buyer. The ex-date rule in this situation is found in FINRA Rules Section 11140 (b)(2), which reads as follows: “(2) In respect to cash dividends or distributions, stock dividends and/or splits, and the distribution of warrants, which are 25% or greater of the value of the subject security, the ex-dividend date shall be the first business day following the payable date.” As always, speak to your financial advisor for more information.
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