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CVC ex-dividend on 4/25 ($10)

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Cablevision, a cable operator, will pay a special dividend of $10 on April 24 to holders as of Tuesday, April 25. This will be return of capital dividend (a $3 billion distribution from its subsidiary, CSC Holdings Inc).

This entry was posted on Sunday, April 9th, 2006 at 10:44 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.

9 Responses to “CVC ex-dividend on 4/25 ($10)”

  1. john Says:
    April 10th, 2006 at 8:18 am

    I think it is holders of record april 18 not 13. If it was 13 the x day would have been friday (I think).

  2. Sam Says:
    April 10th, 2006 at 10:23 am

    Yes, but the exchanges are closed on Friday.

  3. john Says:
    April 10th, 2006 at 10:44 am

    MY POINT:

    Cablevision said late Friday that the dividend of $10 a share would be payable April 24 to holders of record April 18.

    Not the 13′th

  4. mike Says:
    April 10th, 2006 at 2:02 pm

    I am new to this, so do I have to hold the stock until April 24th in order to get the dividend?

  5. chuck Says:
    April 11th, 2006 at 7:11 am

    On April 7, 2006, the Board of Directors of Cablevision Systems Corporation (”Cablevision”) declared a special cash dividend of $10.00 per share on each outstanding share of its NY Group Class A Stock and NY Group Class B Stock. The dividend will be payable on April 24, 2006 to holders of record at the close of business on April 18, 2006. Because of the magnitude of the special cash dividend, the New York Stock Exchange has determined that the ex-dividend date will be April 25, 2006, the business day following the payment date for the special cash dividend. Shareholders of record on the April 18, 2006 record date who subsequently sell their shares of common stock prior to the April 25, 2006 ex-dividend date will also be selling their right to receive the special cash dividend. Shareholders are encouraged to consult with their financial advisors regarding the specific implications of the deferral of the ex-dividend date. cvc website x-date 4/25

  6. Jean Chris Says:
    April 12th, 2006 at 8:44 am

    Mike, if you sell CVC before April 25, you will not get the dividend. If you sell it on April 24, you may get the divident and have to pay it back to the buyer.

  7. Mac Says:
    April 12th, 2006 at 9:08 am

    Go read TOPT message board at Yahoo finance. I’m new to this and was surprised that you had to own TOPT yesterday after a similar article stated “shareholders of record April 17″, but you had to buy it yesterday because of the it takes time for share purchases to record. Markets closed for holiday Friday and closed for the weekend so Two business days makes it the twelfth. The article that many read was similar t CVC article:”TOP Tankers Inc (Nasdaq: TOPT - News) announced today the declaration of a special dividend of $2.50 per share. The dividend will be payable on April 25, 2006 to shareholders of record as of April 17, 2006.” As another poster pointed out”Stock trades take 3 days to settle, so purchases made today (4/12) will have a record date of April 18 (Friday is a market holiday).”

  8. Jean Chris Says:
    April 12th, 2006 at 10:25 am

    Mac, these 2 cases follow different rules. For CVC, the rule NASD UPC Rule 11140 applies because the dividend is greater than 25% of the price of the stock. For TOPT, the dividend was less than 25%.

  9. Mac Says:
    April 13th, 2006 at 12:05 am

    Thanks for the education Jean

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