Post by fastwalker on Sept 17, 2004 10:59:58 GMT -5
FYI...INFORMATIONAL ONLY...
and a very good explanation, hope every body enjoy
Loooooooooooooonggggggg and Strooooooooonnnngggggggggggggg
Thank you for contacting us today concerning dividends for CMKX.
Whenever a company of which you are a shareholder and have your
position at Ameritrade pays a dividend, the dividend payments will be received
by Ameritrade and credited to your account. Cash dividends are
credited to your cash balance and are available to trade or withdraw
immediately upon payment. Stock dividends are credited to your existing
position balances and are also available to negotiate immediately.
The following information pertains to dividend dates of listed
securities.
There are typically three dates referenced with the payment of a
dividend; the ex-dividend date, the record date, and the payable date.
As a rule, the ex-dividend date is the most significant date to keep in
mind. The ex-dividend day is the first day a stock trades without a
declared dividend. The price of the stock is adjusted prior to market
open on the ex-dividend date to reflect the price without the value of
the dividend.
Shares that are purchased on or after the ex-dividend date are
purchased at this lower price and therefore, are not entitled to the dividend
payment. Shareholders who sell their shares prior to the ex-dividend
date sell the shares with the dividend still attached; in other words,
they sell the security and the expected dividend.
Therefore, if one buys shares prior to the ex-dividend date and holds
the shares until after market open on the ex-dividend date, they will
receive the dividend.
Preliminary information indicates that the dividends recently announced
by CMKX will not be quoted "ex-dividend" by the NASD or exchange.
The Record Date is a commonly used term generally referred to in press
releases and other news stories. The date of record is a date used by
Corporations and Transfer Agents. The record date is used for
corporate bookkeeping. Record date does not determine who is entitled to the
dividend unless no ex-dividend date is set; it merely indicates to whom
the transfer agent will need to deliver the shares. If a person holds
shares on the record date but sells the shares prior to the ex-dividend
date, they will need to deliver the dividend with the shares.
Dividends are attached to shares, not people, so if shares are sold prior to
the ex-dividend date, the dividend goes with the shares.
The Payable Date refers to the day the company or paying agent will pay
out the dividend. This typically occurs after market close on the
payable date. Payable date is generally after the ex-dividend date on cash
dividends and prior to the ex-dividend date of stock splits and
spin-offs.
Please keep in mind there are different types of dividends, the most
common being the cash dividend. However stock splits, stock
distributions, and spin-off are all considered dividends and therefore, similar
principles apply. Although most securities follow the rule of ex-dividend
date, this will vary with different exchanges; as a result, we suggest
you request information on a specific security to ensure accurate
information.
The following is preliminary information regarding upcoming dividends
for CMKX.
For CMKX, the spin off rate will be .0000155:1 for restricted shares of
US Canadian Minerals Inc. The record date is 8/20/04, payable 9/24/04.
This means your CMKX buy trades needed to settle on or before 8/20 in
order to receive the spin off shares.
The company will also be spinning off shares of Casavant Int'l Mining
on 10/1/04 at a rate of .0256, fractions being dropped. The record
date was 8/31/04. This means your CMKX buy trades needed to settle on or
before 8/31/04 in order to receive the spin off shares.
Finally, we have preliminary information on a spin off of shares of
Junia Mining (GEMM) with a record date of 10/1/04 and a payable date of
10/1/04. We show no payable rate information at this time.
If you have further concerns or inquiries, please reply to this
message.
Sincerely,
Jon Mercer
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
and a very good explanation, hope every body enjoy
Loooooooooooooonggggggg and Strooooooooonnnngggggggggggggg
Thank you for contacting us today concerning dividends for CMKX.
Whenever a company of which you are a shareholder and have your
position at Ameritrade pays a dividend, the dividend payments will be received
by Ameritrade and credited to your account. Cash dividends are
credited to your cash balance and are available to trade or withdraw
immediately upon payment. Stock dividends are credited to your existing
position balances and are also available to negotiate immediately.
The following information pertains to dividend dates of listed
securities.
There are typically three dates referenced with the payment of a
dividend; the ex-dividend date, the record date, and the payable date.
As a rule, the ex-dividend date is the most significant date to keep in
mind. The ex-dividend day is the first day a stock trades without a
declared dividend. The price of the stock is adjusted prior to market
open on the ex-dividend date to reflect the price without the value of
the dividend.
Shares that are purchased on or after the ex-dividend date are
purchased at this lower price and therefore, are not entitled to the dividend
payment. Shareholders who sell their shares prior to the ex-dividend
date sell the shares with the dividend still attached; in other words,
they sell the security and the expected dividend.
Therefore, if one buys shares prior to the ex-dividend date and holds
the shares until after market open on the ex-dividend date, they will
receive the dividend.
Preliminary information indicates that the dividends recently announced
by CMKX will not be quoted "ex-dividend" by the NASD or exchange.
The Record Date is a commonly used term generally referred to in press
releases and other news stories. The date of record is a date used by
Corporations and Transfer Agents. The record date is used for
corporate bookkeeping. Record date does not determine who is entitled to the
dividend unless no ex-dividend date is set; it merely indicates to whom
the transfer agent will need to deliver the shares. If a person holds
shares on the record date but sells the shares prior to the ex-dividend
date, they will need to deliver the dividend with the shares.
Dividends are attached to shares, not people, so if shares are sold prior to
the ex-dividend date, the dividend goes with the shares.
The Payable Date refers to the day the company or paying agent will pay
out the dividend. This typically occurs after market close on the
payable date. Payable date is generally after the ex-dividend date on cash
dividends and prior to the ex-dividend date of stock splits and
spin-offs.
Please keep in mind there are different types of dividends, the most
common being the cash dividend. However stock splits, stock
distributions, and spin-off are all considered dividends and therefore, similar
principles apply. Although most securities follow the rule of ex-dividend
date, this will vary with different exchanges; as a result, we suggest
you request information on a specific security to ensure accurate
information.
The following is preliminary information regarding upcoming dividends
for CMKX.
For CMKX, the spin off rate will be .0000155:1 for restricted shares of
US Canadian Minerals Inc. The record date is 8/20/04, payable 9/24/04.
This means your CMKX buy trades needed to settle on or before 8/20 in
order to receive the spin off shares.
The company will also be spinning off shares of Casavant Int'l Mining
on 10/1/04 at a rate of .0256, fractions being dropped. The record
date was 8/31/04. This means your CMKX buy trades needed to settle on or
before 8/31/04 in order to receive the spin off shares.
Finally, we have preliminary information on a spin off of shares of
Junia Mining (GEMM) with a record date of 10/1/04 and a payable date of
10/1/04. We show no payable rate information at this time.
If you have further concerns or inquiries, please reply to this
message.
Sincerely,
Jon Mercer
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.