Msg. 32307 of 62138 (This msg. is a reply to
32304 by
Zimbler0)
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Micro,
Dominion Resources - , my local power company, did a 2-1 stock split.
Back around the end of 2007. November 19, 2007 and the share price
would have been somewhere around $95 a share.
As I said before, when it was over I owned twice as many shares worth
half what they were before. With the dividend amount per share cut
in half.
What really hurts is what they call a 'reverse split' . . .
In a 1-2 reverse split one owns half as many shares
worth twice what they were before the split . . . Usually done to
keep the per share price high enough so the market doesn't de-list
them. Also usually a pre-cursor to the company going bankrupt.
I think the ticker was 'NCC' and they got taken over by PNC and
I lost about everything I had in it. (Which, fortunately, wasn't
really all that much.) (2008.)
I have to wonder why PG skyrocketed up to $150 a share in the 1990's . . .
In the case of a 2-1 stock split, when the smoke clears one owns
twice as many shares as one did before the split, with the share
price being half what it used to be and the dividend per share
being half what it used to be.
Net result it is worth what it was pre-split with the same dividend payout.
(I have lived through at least one 2-1 split.)
But, one does have more shares one could sell part of.
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