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SKS ex-dividend on 12/1 (22%, special)

Luxury retailer Saks will pay a special dividend of $4.00 on November 30 to holders as of Friday, December 1. The money comes in part from the proceeds of a $285 million sale of its Parisian stores, a deal that closed Oct. 2. The number of companies making special dividends so far this year is up 9 percent from the same period of 2005.

SKS quote

5 Responses to “SKS ex-dividend on 12/1 (22%, special)”

  1. voice_of_reason Says:

    Hi Everyone, just wanted to give some clarifying information to anyone reading the SKS announcement concerning the special $4.00/share dividend:

    Saks Incorporated (NYSE: SKS) announced that its Board of Directors has declared a special cash dividend of $4 per share. The dividend payout will total approximately $550 million based on the current shares outstanding.

    The special dividend will be payable on November 30, 2006 to shareholders of record as of November 15, 2006. Because of the magnitude of the special cash dividend, the New York Stock Exchange has determined that the ex-dividend date will be December 1, 2006, the business day following the payable date for the special cash dividend.

    The above information was copied from the following location: http://www.streetinsider.com/Dividends/Saks+Inc.+(SKS)+Announces+Special+$4+Per+Share+Dividend/1230091.html

    Just wanted to ensure no ambiguity concerning the record date, payable date, and ex-dividend date. Thanks and may you all make money !

  2. Jim Says:

    HAS ANYONE CHECKED OUT: EMMS (4.00) OR BN (16.00) SYMBOL: RRD HAS BOUGHT BN - PAYING 36.50 AFTER DIV. jim

    EX 11-23 EX 11-22

  3. Lou Says:

    When Wall Street overrides company’s ex-date does that mean one can buy at anytime b/f Dec 1st, and
    still receive the special dividend?

  4. Sam Says:

    Yes.

  5. Patrick Says:

    Yesterday, tanker company Frontline declared a dividend of $2.50/share payable to shareholders of record on December 7. The ex-dividend date is December 5. The dividend represents about 7% of Frontline’s closing share price of $34.55 on November 29.

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