Duke Energy Corporation (DUK) announced that it has acquired Progress Energy Inc., effective July 2, 2012. North Carolina-based Progress Energy was a pure-play electricity utility. The company engaged in regulated electricity operations in the southeastern U.S.
. . .
Due to the effect of the 1-for-3 reverse stock split, which was completed related to this merger transaction, this guidance range
. . .
Zim: I own some of this one . . . . they insist on
re-investing part of my dividend which makes the
'paperwork' a pain in the butt . . . and now this.
I was going to put the numbers into the computer,
and DUKe's share price had skyrocketed . . .
Last week it was $23.06 a share . . this - $66.23.
(Either I just tripled my money - unlikely - or
something else was happening.)
I do wish the companies would send me a letter
explaining all these things to me when they happen . .
Including any mathematics involved in re-calculating
my cost basis etc. etc.
COP spun off some PSX a while back . . . and I got
nada as to details.
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