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URL:  http://boards.fool.com/youve-stumbled-unto-a-quirk-of-vgr-the-company-29575897.aspx

Subject:  Re: Dividend Payment Less 1 Date:  9/30/2011  11:24 PM
Author:  dfish Number:  27711 of 27818

You've stumbled unto a quirk of VGR. The company pays an annual stock dividend of 5% (in addition to its cash dividend) and that just happens to be 1/20 as a fraction, so every 20 shares earned a new single share.
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