Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: Immord Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120  
Subject: Update on Idearc Date: 11/17/2006 2:29 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
It will be interesting to see how low this puppy goes....




Idearc to Begin Trading Under Symbol 'IAR' on Nov. 20
Friday November 17, 12:53 pm ET
Regular Way Trading in 'VZ' Includes Idearc Stock Dividend Through Close of Business Today as Spin-off Is Completed


NEW YORK, Nov. 17 /PRNewswire/ -- On Monday, Nov. 20, Idearc Inc. common stock will begin trading in the regular way market on the New York Stock Exchange (NYSE) under the symbol "IAR."
The previously announced spin-off of Idearc to shareholders of Verizon Communications Inc. (NYSE: VZ - News) was completed today, and Idearc now owns what were the Verizon domestic print and Internet yellow pages directories publishing operations. Verizon distributed a dividend of one share of Idearc common stock for every 20 shares of Verizon common stock held as of 5 p.m. on Nov. 1 (the "Idearc Stock Dividend").

Beginning Nov. 6 and continuing through the close of business today, there have been two markets in Verizon common stock: a "regular way" market (which includes the Idearc Stock Dividend) and an "ex-distribution" market (which does not include the Idearc Stock Dividend).

Verizon has been advised by the NYSE that regular way trading under the symbol "VZ" includes the Idearc Stock Dividend through the close of business today. This means that a purchaser who buys shares of Verizon common stock in the regular way market under the symbol "VZ" through the close of business today will also buy the right to receive the Idearc Stock Dividend associated with those Verizon shares. Similarly, when-issued trading in Idearc common stock under the symbol "IAR wi" will continue on the NYSE through the close of business today.

Beginning on Nov. 20, Verizon common stock trading under the symbol "VZ" will no longer include the Idearc Stock Dividend.

For further information, see Idearc's Form 10 Registration Statement, as amended, filed with the Securities and Exchange Commission and available online at www.sec.gov.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement