TOPT ex-dividend on 4/12 ($2.50)
TOPT will pay a special dividend of $2.50 on April 25 to holders as of Wednesday, April 12. The company decided to discontinue paying regular quarterly dividends in favor of special dividends based on financial results. It paid a $5/share special dividend last Month.
April 8th, 2006 at 7:49 am
Isn’t the 12th date of record (Good Friday mkt closed) for 17th exdiv, 25 th payment due?
April 8th, 2006 at 12:49 pm
Yep, 4/12 is the correct date. Thanks Gary.
April 8th, 2006 at 6:43 pm
I though the only IMPORTANT date was the ex-date; which is the 17th. Why is the 12th being mentioned at all?
I’m now going to do a Simon Cowell. Not to be picky but… Example is spelled incorrectly on your link for ‘dividend capture strategy’ heading of the 2nd part. Sorry.
April 9th, 2006 at 12:38 pm
I bad. Can’t read. Screwed up X vs record date. Ignore post #3.
April 12th, 2006 at 9:11 am
Rob, I posted this on CVC Board, but it may interest you: 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).”
April 12th, 2006 at 10:28 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%.