WNI ex-dividend on 8/14 (20%, special)
Schiff Nutrition International will pay a special dividend of $1.50 on August 13 to holders as of Tuesday, August 14. The dividend will be taxed in part as earning dividend, and in part as return of capital dividend. That’s 20.1% of the share price of $7.460. This special dividend will be paid out of cash that was mostly sitting idle on the balance sheet. I like that.
July 30th, 2007 at 10:45 am
Wachovia also lists the X date as 8/14.So,what does X mean here? How does that relate to 7/31?
July 30th, 2007 at 11:39 am
7/31 is irrelevant. You need to own the stock at market opening on 8/14 to get the dividend. period.
August 1st, 2007 at 11:08 am
July 31st was the day you had to hold the stock to receive the special dividend. That, in part, explains the large sell-off of the stock today.
August 1st, 2007 at 8:44 pm
As Alan said, 7/31 is irrelevant. Today’s sell-off has nothing to do with the dividend.
August 3rd, 2007 at 10:07 pm
According to this website, if I interpret correctly, 8/14 is the date that one has to hold the stock at least that long in order to qualify for the payment on 8/13, meaning, you can’t sell it between July 31st and August 13th. So in effect, the big drop in price on Aug 1st would have nothing to do with the special dividend because anyone who really wanted to receive it would not be able to sell their stock until 8/14 at least; basically no in and out privileges.
August 6th, 2007 at 2:37 pm
The special dividend has not been placed on the big charts yet. So that tells me that the special dividend has not been payed out yet. It looks like there is still a chance to get back in now to get the special dividend before the 14th of August.
August 9th, 2007 at 2:06 pm
Aug. 14 is the first day the stock trades X (= without) dividend. That means you can buy it on the 13′th and still get the dividend.
You will NOT get the divi from the company, you will get it from whomever sold it.
This is pretty standard with special dividends, so I am surprised at some of the comments.
August 11th, 2007 at 5:47 am
I don’t feel like such a dummy after reading some of the other comments on this dividend.
I went to the Schiff Website and checked the 8-K Exhibit 99.1 and this what they state:
SCHIFF NUTRITION INTERNATIONAL, INC. ANNOUNCES FISCAL 2007
FOURTH QUARTER AND YEAR-END RESULTS AND DECLARES SPECIAL
CASH DIVIDEND OF $1.50 PER SHARE
Salt Lake City, Utah, July 19, 2007: Schiff Nutrition International, Inc., (NYSE: WNI), today announced results for the fiscal 2007 fourth quarter and year ended May 31, 2007. The company also announced plans to return $1.50 per share to shareholders through a special cash dividend payable on August 13, 2007 to shareholders of record at the close of business on July 31, 2007.
Schiff Nutrition’s Board of Directors approved a $1.50 per share special cash dividend, payable on August 13, 2007 to shareholders of record at the close of business on July 31, 2007. Schiff’s Class A common stock will begin trading on an ex-dividend basis on August 14, 2007, the day after the payment date, in accordance with NYSE rules. Shareholders who sell their shares on or before the August 13, 2007 payment date will also be selling their right to receive the $1.50 per share cash dividend. Shareholders are advised to contact their financial advisor before selling their shares.
It seems that the stock is going x-dividend the day after the payout date so the dividend should be safe for anyone that buys in prior to that date.
Very confusing.
August 14th, 2007 at 4:23 am
Has anyone received the special dividend?
August 14th, 2007 at 8:39 am
I haven’t.
August 15th, 2007 at 3:04 am
Special dividend received on 8/15.
August 15th, 2007 at 9:00 am
Same here.
August 15th, 2007 at 7:50 pm
I received my dividend today 8/15