$4 SAKS dividend

[gotmilk]

coming up soon

 

[nycgirl]

How much is a share?

 

[gotmilk]

I think it closed around $18ish on Friday

 

[nycgirl]

Okay. Will purchasing shares on Monday be okay? Do you have to already own shares to get the dividend?

 

[gotmilk]

Not sure when the actual pay date will be. I think they still have to formally sell some of their assets.

Saks will probably be sold off in portions this year.

 

[gotmilk]

Their 8k said the sale is supposed to close on the 13th

 

[ZKaudio]

have fun day after div pmnt lol

 

[Devastation]

you think a sale is imminent bro?

nycgirl, a $4 cash dividend would likely be a return of capital and will leave you right where you started as far as basis goes cuz the share price will be reduced by that much

also where is sks getting the cash? they'd need 550 million to do it and they have 27 million in cash, and 759 million in debt. they'd be crazy to pull some shit like that

i thought about picking up some sks when/if it gets back to the low 18's, as i serioulsy believe they will be acquired within 2006, but i would be less inclined if they do this special dividend

 

[Devastation]

Not sure when the actual pay date will be. I think they still have to formally sell some of their assets.

Saks will probably be sold off in portions this year.

ok, i haven't read their filing yet. if that's the case, this situation has some potential

also this wouldn't be a return of capital, it would be a special dividend and share price wouldn't necessarily be cut by $4. the market would evaluate their worth, and with the rest of the assets being up for grabs, they should command a decent price, or at least one above the current trading price

 

[nycgirl]

you think a sale is imminent bro?

nycgirl, a $4 cash dividend would likely be a return of capital and will leave you right where you started as far as basis goes cuz the share price will be reduced by that much

also where is sks getting the cash? they'd need 550 million to do it and they have 27 million in cash, and 759 million in debt. they'd be crazy to pull some shit like that

i thought about picking up some sks when/if it gets back to the low 18's, as i serioulsy believe they will be acquired within 2006, but i would be less inclined if they do this special dividend

Oh, I see. It doesn't sound as good now. I'm still learning about this stuff.

 

[Devastation]

Oh, I see. It doesn't sound as good now. I'm still learning about this stuff.

oops, read my next post!

 

[gotmilk]

I'd be selling by 1pm of the pay date...it should raise a little but will drop when daytraders bail out on the dividend.

I played Ameritrade the same way. Up $4 on the stock gain...pocketed the cash dividend...cashed out after noon time on the pay date....watched it drop the next day.

 

[ZKaudio]

i have also seen cases where the share price drops far below the div payout... watch out. Good time to buy if it loses more than the div value.

 

[MattTheSkywalker]

I have a Saks First card and I am known by name at several of their retail outlets, especially in NYC and ATL.

I like tacos.

 

[sawastea]

I have a Saks First card and I am known by name at several of their retail outlets, especially in NYC and ATL.

Congratulations, you should be very proud.

 

[bran987]

nobody else thought of this I'm sure.

like I dunno, softy comes to mind at $3.

 

[gotmilk]

like I dunno, softy comes to mind at $3.

Engrish!