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I Purchased 50 shares of MFNX ($44-I purchased it in Feb99)then around April they announced they would have a 2 for 1 stock split (paying out in Stock Dividend).

They said the stock dividend will be issued to shareholders of record as of the close of business on May 3, 1999. And futher said The Company expects that itstransfer agent, Chase Mellon Shareholder Services, will distribute the stock dividend on or about May 19, 1999. I sold the shares today. Do I still receive the Stock Dividend? In what form and how? Please advise. Thnx!


Godsip,

You will not receive the dividend. The "ex-date," or date when holders receive a dividend, is actually the day after the payable date for stock splits. In other words, you would have had to held until tomorrow (May 20th) to receive the dividend. This is somewhat confusing since the ex-date for cash dividends is usually three business days prior to the payable date.

Fool on,

Warren
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