EMMS ex-dividend on 11/24 (31%, special)
Radio broadcaster Emmis Communications will pay a special dividend of $4.00 on November 22 to holders as of Friday, November 24. That’s 30.9% of the share price of $12.940. The dividend, the company’s first ever, was pre-announced months ago. For tax purposes, the dividend will be treated approximately as 35% return of capital and 65% earning dividend.
November 9th, 2006 at 12:21 pm
Emmis Declares Special Cash Dividend on Common Stock
Last Update: 11/2/2006 4:25:00 PM
Emmis Declares Special Cash Dividend on Common Stock
INDIANAPOLIS, Nov 02, 2006 /PRNewswire-FirstCall via COMTEX/ — Emmis Communications Corporation (EMMS) today announced that its Board of Directors has declared a special cash dividend of $4 per share payable pro rata to all holders of the Company’s common stock, with a record date of Sunday, Nov. 12, 2006 and a payment date of Wednesday, Nov. 22, 2006.
“The $4 per share dividend, the first dividend on our common stock in Emmis’ 25 year history, demonstrates our commitment to creating shareholder value and our enthusiasm about what lies ahead for our core radio and publishing businesses,” Emmis Chairman and CEO Jeff Smulyan said.
On Sept. 18, 2006, the company announced that its Board had directed management to take the necessary steps for the special dividend to be declared. The company expects the dividend to be treated for tax purposes as approximately 35% return of capital and 65% dividend. The final allocation will be included in Forms 1099, to be distributed in January.
Emmis Communications — Great Media, Great People, Great Service(R)
November 9th, 2006 at 7:46 pm
How can the pay date be before the reoord date?
November 9th, 2006 at 8:46 pm
You want to buy a stock with a solid down trend line for a $4.00 divident?
November 9th, 2006 at 9:08 pm
Further Technical Analysis shows trend has changed and its a buy. 21 day MA crossover 50 day MA giving a buy signal but the longterm trendline still there.
November 10th, 2006 at 9:59 am
Nasdaq rule for very big dividends.
November 14th, 2006 at 10:33 am
When do you have to buy the stock to get dividend?
November 14th, 2006 at 10:56 am
BUY B/4 11/9———-HOLD AT LEAST TILL 11/13———–BUY AGAIN & HOLD TILL 11/24—–I THINK?
November 15th, 2006 at 7:33 am
For a special dividend, you must buy or own the stock on the payment date (22 Nov) and you must hold the stock until the market opens on 24 Nov (Ex dividend date.)
November 21st, 2006 at 10:59 am
I assume the dividend travels with the stock if bought between the record date and the ex-dividend date.
Is there any speciall problem with tax treatment of the traveled dividend if you do not own the stock as of the record date?
December 4th, 2006 at 10:43 am
according to EMMS dividend will be paid on Nov. 22 to hoders of November 12. Did smartdividend.com made a mistake when announced EMMS will pay a special dividend of $4.00 on Nov.22 to holders as of FRIDAY, NOVEMBER 24.
December 4th, 2006 at 2:18 pm
No. Nov 24 was the correct ex-dividend date.
(Nov 23 was a holidy, I guess that’s why it is confusing)