FLA ex-dividend on 7/26 (26%, special)
Florida East Coast will pay a special dividend of $21.50 on July 25 to holders as of Thursday, July 26. That’s 25.9% of the share price of $83.This was part of a bouyout by private equity funds to acquire the company for $3.5 billion transaction. In addition to the special dividend of $21.50 per share, shareholders will receive $62.50 in cash for each share of FLA common stock they hold, valuing the company at $84 a share ante-dividend.
July 13th, 2007 at 3:09 pm
how can the payout date be prior to the ex-dividend date? Is there a typo here?
July 13th, 2007 at 4:45 pm
Florida East Coast Industries Inc. has declared a one-time, special cash dividend of $21.50 per share on all issued and outstanding common stock.
The special dividend is payable July 25 to shareholders of record of such stock at the close of business July 24, after a shareholder meeting to approve the proposed merger of FECI (NYSE: FLA), Iron Horse Acquisition Holding LLC and Iron Horse Acquisition Sub Inc. FECI’s obligation to pay the special cash dividend is subject to the availability of sufficient financing to fund it, and directors also reserved the right to modify the record and payment dates
July 13th, 2007 at 4:47 pm
The special dividend is subject to certain conditions in the acquisition agreement as well as to the availability of sufficient financing to fund the dividend.
July 13th, 2007 at 5:13 pm
Yeah, but on the proxy vote document they sent me, they implied they had a solid financing scheme in place (it’s a private investment fund after all)
July 18th, 2007 at 12:45 pm
Is this for real? Will the stock drop $20.00 the day of the payout?
July 19th, 2007 at 6:07 am
Since they pay the $62.50 cash with the $21.50 dividend totaling $83.00. Are we still own the shares we have.
July 19th, 2007 at 9:20 am
Does this mean that FLA will stop trading on the NASDAQ after 7/26?
July 19th, 2007 at 2:51 pm
No, FLA is expected to stop trading “third quarter of 2007″