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AVCI ex-dividend on 6/7 (22%, special)

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Avici Systems will pay a special dividend of $2.00 on June 22 to holders as of Thursday, June 7. That’s 22.5% of the share price of $8.900. The company is in a midst of a major strategic shift, abandoning its core router product to focus on a software-centric ethernet switching solution using off-the-shelves, low-cost switches. Looks like awkward timing to give away most of its cash as special dividend.

AVCI quote

This entry was posted on Monday, June 4th, 2007 at 9:15 am and is filed under Div Alert. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

5 Responses to “AVCI ex-dividend on 6/7 (22%, special)”

  1. nobody Says:
    June 4th, 2007 at 11:37 am

    MSN Money article shows “holders as of June 11th” rather than the 7th.

    NORTH BILLERICA, Mass. (AP) - Avici Systems Inc. on Wednesday said its board has declared a special cash dividend of $2 per share, or about $28 million.

    The dividend will be paid on June 22 to shareholders of record on June 11.

  2. somebody Says:
    June 4th, 2007 at 4:13 pm

    Duh, that’s why the EX-DIVIDEND date is 6/7 ….

  3. somebody Says:
    June 4th, 2007 at 4:13 pm

    Ex-dividend date is two business days BEFORE the date of Record….

  4. somebody Says:
    June 4th, 2007 at 4:13 pm

    usually…

  5. lliberski Says:
    June 6th, 2007 at 7:10 am

    What is the rule with extended hours trading? If the ex-dividend date is 6/7, can I sell on the 7th before the market opens and still receive the dividend?

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