AHM - this ought to be good for Monday

Quote from Eliot Hosewater:

http://biz.yahoo.com/bw/070727/20070727005793.html?.v=1

They waited until late on Friday night to pull their dividend. It was announced and the date of record had already passed.

Is this even legal? I smell lawsuits.
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I thank you for this post; this is exactly what ET is all about. I did not see this before, so I am glad you brought it to my attention.

I don't think I have ever seen this happen before, where a dividend is canceled between the record and ex-div date. Unreal. And what a dividend! I mean, the best I've ever done was buying CG when it was like 16 bux, and the dividend topped 10 percent. Check this one out. A quarterly dividend of .70 on a (now) 10 dollar stock?? I am sure glad I didn't find this before the record date. How could you not buy the stock?? I would have been sorely tempted...
 
Eliot, you are the MAN.

This looks like an amazing short. First thing at the open on Monday. Damn, you could even bet all your money on it.
 
Quote from Khaled187:

Eliot, you are the MAN.

This looks like an amazing short. First thing at the open on Monday. Damn, you could even bet all your money on it.
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I bet it'll do most of its falling pre-market and open lower. I'm def. not going to start shorting pre-market, but if this thing gets in a nice downtrend intraday, i might short.
 
Hmph. This reminds me of 1990 or so, when the NY banks were on the ropes. Manufacturers' Hanover, an old NY bank, long since folded into one of the surviving ones, I think Chase, was paying a dividend that, with the dive in its stock, was worth 40%. Ed Hart of the old FNN (I still miss that channel) stared straight at the screen and said, "Try to collect." Of course, no one did.
 
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