Seeking Alpha

Vodafone explains how it will dole out Verizon windfall

  • Vodafone (VOD) will divide up 1.27B Verizon Communications (VZ) shares to its investors as part of the distribution it's making following the $130B sale of its 45% stake in Verizon Wireless.
  • Vodafone stockholders will receive 0.026 of a share in Verizon Communications for each Vodafone share they own.
  • The U.K. carrier's shares are due to be consolidated on Monday at the rate of 6 new shares for 11 existing shares after the Verizon transaction closes on Friday.
  • Based on closing stock prices and currency rates yesterday, for example, a Vodafone stockholder would receive £0.72 in Verizon shares and £0.30 in cash for each Vodafone share they hold. (PR)
Comments (89)
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    ADR shareholders will receive .26 shares as each ADR represents 10 ordinary share. (100 ADRs will receive 26 Vorizon shares)
    19 Feb, 05:32 AM Reply Like
  • User 12836481
    , contributor
    Comments (2) | Send Message
     
    article says .026 not .26
    or am I missing somthing
    19 Feb, 08:27 AM Reply Like
  • User 12836481
    , contributor
    Comments (2) | Send Message
     
    its .026 not .26 read article again
    19 Feb, 08:28 AM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    KNOW WHAT YOU OWN. 1 US/ADR = 10 UK SHARES.
    100 US VOD SHARES = 1000 UK SHARES.
    So 100 VOD shares (adr) = 26 shares VZ plus cash but your VOD shares will compress in number to offset the payout.
    19 Feb, 01:30 PM Reply Like
  • User 19860781
    , contributor
    Comment (1) | Send Message
     
    Thanks.. that clarification helped me a lot.
    15 Mar, 12:25 AM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    So if one owns 350 shares of VOD, those will be consolidated at a rate of 6 for every 11 (192 total). In addition, 26 shares of VZ for every 100 VOD will be issued (91 total). Plus a cash payout (due March 4th as I've learned) of .30 pence or roughly .50 cents per share. Am I correct here? Apparently no one writing about this has given an actual payout scenario.
    19 Feb, 08:49 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Here is what my broker told me, 100 shares of VOD = 26 shares of VZ. Each share of VoD is 4.90 per share or 100 VOD = $490.00. I am not sure what the article is stating.
    19 Feb, 09:18 AM Reply Like
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    Thats how I understand it. $490 of cash for 100 ADR shares of VOD. However, I understand this number is still subject to a final measurement date adjustment.
    19 Feb, 02:43 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Yeah, that's about what I figured, Landshark. But then there's the question about VoD consolidating shares. Are your 100 VoD "reduced" to 55 (or so)?
    19 Feb, 09:36 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Mikie713 ,

     

    I own 429 shares VOD I get approx. 4.90 per share = approx. $ 2,016 107 shares of VZ. & the 2/3 reverse split gives me roughly 234 VOD shares. So its basically a wash with the exception of approx. 25% run up on shares of VOD stock price note: it was trading around 29-30 when deal was announced & the 8% increase in VOD dividend payout.

     

    Hope this helps Good Luck
    19 Feb, 03:42 PM Reply Like
  • bobcat4040
    , contributor
    Comments (3) | Send Message
     
    I haven't owned this stock into any dividend yet. I called a special hotline for the VZ stock divestiture and they said there is no UK withholding. Have you owned VOD for awhile (into previous dividends and in a non-IRA account) and can you confirm the withholding info?
    Thanks
    19 Feb, 11:11 PM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    There is no UK withholding tax on VOD or any other non-reit UK stock either in a cash or retirement account.
    20 Feb, 11:03 AM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    54.545 shares VZ for every 100 shares VOD/adr
    19 Feb, 01:32 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Explain the consolidation in relation to number of shares and value. Thanks.
    19 Feb, 01:34 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    26 shares of VZ for every 100 shares of VOD. In American account
    20 Feb, 10:37 AM Reply Like
  • zak3999
    , contributor
    Comments (2) | Send Message
     
    Do you guys know about, how the LEAP options will be re-priced if at all?
    I have the $35 VOD LEAP expiring Jan/2015. TD brokers just does not have a clue. They've been pretty useless.
    19 Feb, 02:37 PM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    They don't know because the SEC will decide with the CBOE's input what to do with the options; most likely they will adjust the number of shares as well as the strike values to reflect the 'new' stock price. If you sold the calls you're probably ok, if you bought the calls its a guess. If its an odd-lot contract (-100 shares), it would be thinly traded and have less demand then you'd normally expect. I run multiple accounts through TDA, Schwab & Scottrade, they all say about the same; as of 2/19 that was what was known. Clarity in a few days.
    20 Feb, 11:11 AM Reply Like
  • iambullmoose
    , contributor
    Comments (2) | Send Message
     
    Will the cash payout in March be based on the ordinary shares or will it be based on the new consolidated shares
    19 Feb, 02:38 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    The cash payout will be based on shares existing before consolidation. What I don't understand the consolidation will do to existing shares and their value. In other words, if you own 100 shares @ 37.75 before consolidation, will you own 55 shares @ 70.00 (roughly) after?
    19 Feb, 02:51 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    My understanding is the share price will remain the same ,the gain is in the stock price that went up on announcement & the 8% dividend increase, also the diversification into VZ. That is the only benefit we as shareholders receive with the exception of VOD having a cash pile to continue to pay & raise dividends ,also to expand into the emerging markets India, Germany, Etc.
    19 Feb, 03:48 PM Reply Like
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    I am assuming the VOD future dividend amount will be lower since we will have less shares after the reverse split?
    19 Feb, 06:42 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    No, it will likely increase incrementally ... but since you have less shares it'll feel lower.
    19 Feb, 06:44 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Yes you are correct but you will be receiving the dividend from VZ shares & an increase from 1.60 for VOD dividend to 1.72 which is the 8% increase the VZ dividend will make up the difference for lower amount of VOD shares
    20 Feb, 10:40 AM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    its not a reverse split as normally seen; the stock price will get reduced by the VZ shares value and the cash payout.
    20 Feb, 11:15 AM Reply Like
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    Thats what I thought. So the VOD by itself dividend will be less in dollars received last year to this year due to the reduction of the number of shares (although there is an 8% increase, it won't make up for the reduced share count). However the new Vorizon shares will carry a dividend and combined with the reduced VOD shares the amount of the dividend will be close to the amount provided last year. And of course we get a big special dividend.
    20 Feb, 11:46 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Yes and with the big dividend we can invest in what we want, keep the cash, buy more VOD,VZ or whatever.The shares are way up today in anticipation of the deal.
    20 Feb, 03:57 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Thanks, Landsharks, picture is a little clearer now, not too sure I like the consolidation angle. The VZ stock is nice, good dividend on that. Think VoD is in ATT's crosshairs?
    19 Feb, 04:17 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Your welcome, I like the VZ dividend also the stockpile of cash VOD will have to attain more buisness in emerging markets & the dividend is safe for years to come with I am fairly certain increases.
    20 Feb, 10:43 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Its certainly a possibility, but the way VOD is going after emerging market telecoms they/ we may not want to sell to at&t which I have some of T as well.I like VOD prospects in India over 1 billion people there if Vod taps into that market there are a lot of possible new users. Im going to hold my VOD shares & VZ shares & find a place to deploy my approx. $ 2,016 elsewhere.
    20 Feb, 04:03 PM Reply Like
  • mjb0909
    , contributor
    Comments (112) | Send Message
     
    I am more confused by all the comments, someone please help. Based on the announcement above I figured out that since we own 725 shares of VOD we will receive 188 shares of VZ. In addition will receive as stockholders about $362 in cash/dividends (since their using the pound symbol & need to convert it to dollars) plus after the spinoff will own a smaller shares of VOD. I can't figure where this payout of $4.90 per share comes from that some earlier comments described?
    19 Feb, 11:14 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Yeah, it's confusing. I believe, though not entirely certain, there is a cash payout due March 4th of $4.90 per VoD share. in your case, 3500 bucks US (roughly), you got the VZ shares right, your VoD shares apparently will contract to around 400 (somewhere in there) keep the same price and the dividend. That happens 2/24. The dividend will continue to grow going forward (as per the contracted shares). And as per rumors, ATT has been eyeing VoD which will learn more about later in 2014. I plan to reinvest my cash payout right back into VoD. Good dividend, good company.
    19 Feb, 11:25 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    The 4.90 is a estimate based on share price & value of the deal,it may be $ 4.80 a share or $4.95 a share. will be somewhere very close to that.
    20 Feb, 10:46 AM Reply Like
  • whatdoyouknow!
    , contributor
    Comments (2) | Send Message
     
    Do the math whatever your marketvalue of Vodafone was on Feb21,2014 the value of the transaction should be the same and hopefully more than on Feb21,2014. add everything up new share $mv and cash payouts.
    25 Feb, 01:25 PM Reply Like
  • alanctot
    , contributor
    Comments (10) | Send Message
     
    Assuming you understand the fundamental theorem of integral calculus, this transaction is very rudimentary....
    20 Feb, 12:41 AM Reply Like
  • alanctot
    , contributor
    Comments (10) | Send Message
     
    Assuming you understand the fundamental theorem of integral calculus, this transaction is very rudimentary....
    20 Feb, 12:42 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    I do not , but the deal went through today, I hope we all make tons of money.
    21 Feb, 02:05 PM Reply Like
  • mtboultinghouse
    , contributor
    Comments (5) | Send Message
     
    Does anyone know when the new VOD and VZ shares will show up in our brokerage account? I just checked mine and have not seen them and thought that today (2/24) was the day for that to happen.
    24 Feb, 01:18 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    I am confused on this as well, I have not seen any VZ shares into my account only the less shares of VOD.. It was supposed to be before open today????
    24 Feb, 02:28 PM Reply Like
  • georgebeddoe
    , contributor
    Comments (844) | Send Message
     
    My Verizon shares for VOD showed up at Fidelity today: 53 shares VZ for 203 VOD ADR. The fractional part (203.75) will show up later as will the cost data.
    24 Feb, 08:55 PM Reply Like
  • mtboultinghouse
    , contributor
    Comments (5) | Send Message
     
    I guess I am stupid but where is the $4.90 cash per share coming from? I read where the Sterling to US Dollar for the deal is 1.67:1 and if you convert that to dollars it is $2.78. What am I missing?
    23 Feb, 09:38 AM Reply Like
  • mtboultinghouse
    , contributor
    Comments (5) | Send Message
     
    Never mind everybody, once I understood the conversion rate of ADR shares from UK shares (10:1) then it all fell into place. I am frantically trying to figure out where all of these numbers came from now. Amazing how one piece of the puzzle makes it all fit!
    23 Feb, 02:42 PM Reply Like
  • User 11798721
    , contributor
    Comments (3) | Send Message
     
    Does anyone know why we were charged a mandatory reorganization fee?
    24 Feb, 02:49 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Never heard anything about it. Wondering if that's just brokers playing fast and loose with the billions that are being transferred. Doesn't surprise me.
    24 Feb, 02:52 PM Reply Like
  • curreyr
    , contributor
    Comments (678) | Send Message
     
    I agree that all should watch/question their brokers about their handling of this ...

     

    Some questions:
    How is cost basis being accounted for between old-VOD versus new-VOD + new-VZ?
    What is any justification for any fees? (ask for documentation)
    Clarification that the dividend is qualified.

     

    Per the VOD investors site, the dividend is qualified, settlement is today.

     

    If your broker won't/can't satisfy you, threaten to leave.
    24 Feb, 04:33 PM Reply Like
  • User 11798721
    , contributor
    Comments (3) | Send Message
     
    Thank you for the feedback. I just called TD Ameritrade and low and behold Mandatory Reorganization fee is listed in their service fee schedule. They claim it is to cover their administrative expenses related to corporate actions and that it is not a revenue stream.
    25 Feb, 08:33 PM Reply Like
  • dale j
    , contributor
    Comments (3) | Send Message
     
    I'm looking at my statement and VOD came back in at a unit cost of $47.157 for some shares and $49.086 for the remaining shares. I'm at a loss.. Seems like my broker can't answer the question either..Still trying to get one. VOD traded at about $39.00 a share on 2/21
    16 Mar, 11:52 AM Reply Like
  • SMQ
    , contributor
    Comments (21) | Send Message
     
    is today the last day you can buy vodafone shares to qualify for the dividend ?
    24 Feb, 04:14 PM Reply Like
  • whatdoyouknow!
    , contributor
    Comments (2) | Send Message
     
    People do the math! Figure the close price on Feb 21, of vod /adr times your adr's owned then when you get payouts and new shares issued they should equal or be a little bit more $m/v on Feb 21,2014. Depending on closing price whim of the markets.
    25 Feb, 01:25 PM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    VZ shares are now in both Scottrade & TD Ameritrade accounts; you get .26+ VZ share for every 1 VOD ADR share; TDA has VOD shares adjusted for the split, Scottrade waiting to receive papers from UK/VOD; re-org fees are a regular cost of participating in these things; Scottrade will charge $17-20 for it, TDA would charge me $38 but I'm an Apex client (6 figures and up) so they waive it. Cash will follow 1st week in march.
    25 Feb, 03:58 PM Reply Like
  • n8.310
    , contributor
    Comments (3) | Send Message
     
    So does anyone know how the cost basis is going to work?

     

    I had assumed VZ would be 2/24/2014 @ the opening price ($47.02 per YahooFinance). The problem with this is that my account is showing no price (yet) and an opening date of 2/21/2014.

     

    VOD I am quite lost on: does the aggregate basis reduce by the same 6:11 as the share quantity did (with the "per share" cost staying the same)? Because cost basis was applied to the new shares today for the same aggregate cost as the old shares and an increased "per share" cost (to offset the lower share quantity). If this is true, then I would be able to sell my new VOD shares at a loss, compared to the substantial gain that was present just before this whole situation?
    26 Feb, 08:28 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    I believe you're right, with the cash part of the deal to offset the "shares at a loss".
    26 Feb, 08:30 PM Reply Like
  • rickie76
    , contributor
    Comments (4) | Send Message
     
    I must be missing something! Here's my numbers. 218 VOD closed 2/21 [228x$71.50]= $15,587. To try for a wash I have 118 new VOD closed 2/24 [118x$41.20]= $4862, 57 shares VZ @ $46.23 = $2635, and cash expected = [218x$4.90] = $1068 for a total $8565. Then $15,587 - $8565 = a $7022 loss. How do I get to a wash?
    27 Feb, 01:28 AM Reply Like
  • curreyr
    , contributor
    Comments (678) | Send Message
     
    Vod on 2/21 was not $71.50
    27 Feb, 02:29 AM Reply Like
  • rickie76
    , contributor
    Comments (4) | Send Message
     
    As I am a long way from a wash I must be missing something. Here are my numbers. As of 2/21 218 VOD closed at [218x$71.50] = $15,587. On 2/25 I have 118 VOD closed at $41.20 [118x$$41.20] =$4862, 57 VZ shares closed at $46.23 [57x$46.23] = $2635, and expected cash of [218x $4.90]= $1068 for a total $8568. My $15,587 - $8568 leaves a $7019 loss. What am I missing?
    27 Feb, 01:31 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    VOD was never up to 71.50, it was put out there to make numbers work when they did reverse split ,but VOD never actually reached that mark only after hours when they were balancing out there accounting. Also everyone the special dividend of $4.93 will be paid on 3/4/14 iof you are in a drip ,it will buy more shares ,So if anyone wants the cash call your broker A.S.A.P or you will be owner of more VOD. I am taking the cash.

     

    Good Luck
    27 Feb, 10:39 AM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    you're missing correct numbers on everything.
    27 Feb, 11:14 AM Reply Like
  • Alvaro Pena
    , contributor
    Comments (3) | Send Message
     
    This is what I found in Nasdaq website:

     

    Equity Trader Alert #2014 - 14 NASDAQ Confirms Dates for Upcoming Vodafone Group Plc ADS (VOD) Transaction

     

    Vodafone Group Plc ADS has announced a return of value cash distribution, a distribution of Verizon Communications Inc. (VZ) common stock, and a Reverse Split. All dates are now confirmed as court approval was obtained today, February 21, 2014.

     

    Cash Distribution Details

     

    Vodafone Group Plc (VOD) has announced a Return of Value cash entitlement. The details of the distribution are as follows:

     

    Company Vodafone Group Plc
    Issue: American Depositary Receipt
    CUSIP: 92857W209
    Symbol: VOD
    Record Date: February 20, 2014
    Payment Date: March 4, 2014
    EX Date: February 24, 2014
    Due Bill Redemption Date: February 26, 2014
    Amount Per Share: $4.928005
    VZ Stock Distribution Details

     

    Vodafone Group Plc ADS (VOD) has announced a stock distribution of Verizon Communications Inc. common stock (VZ). The details of the distribution are as follows:

     

    Company Vodafone Group Plc ADS
    Issue: American Depositary Receipt
    CUSIP: 92857W209
    Symbol: VOD
    Record Date: February 20, 2014
    Payment Date: February 24, 2014
    EX Date: February 24, 2014
    Due Bill Redemption Date: February 26, 2014
    Ratio of Distribution: 0.263001 share VZ for each share held
    Reverse Stock Split Details

     

    Vodafone Group Plc ADS (VOD) has announced a reverse split. The reverse split details are as follows:

     

    Company: Vodafone Group Plc ADS
    Issue: American Depositary Receipt
    New CUSIP: 92857W308
    Symbol: VOD
    Legal Effective Date: February 24, 2014
    Marketplace Effective Date: February 24, 2014
    Ratio of Reverse Split: 6-11 R/S
    Please Note: On the EX date of February 24, 2014 the adjustment to Vodafone Group Plc ADS (VOD) will be reduced by the cash rate and VZ stock distribution rate first and then the Reverse Stock Split.
    27 Feb, 02:23 PM Reply Like
  • rickie76
    , contributor
    Comments (4) | Send Message
     
    Are there any one or two numbers that are so far off actual that they would reduce my assumed loss?
    27 Feb, 02:41 PM Reply Like
  • n8.310
    , contributor
    Comments (3) | Send Message
     
    I am still lost in terms of cost basis...anyone have an idea as to how that works?
    27 Feb, 02:41 PM Reply Like
  • curreyr
    , contributor
    Comments (678) | Send Message
     
    "I am still lost in terms of cost basis"

     

    From what I gather, (for U.S. ADR holders):
    The VZ shares have a cost basis of $0. It appears that it isn't treated as if this was a spinoff but instead as a "distribution". A spinoff would have the new-VZ and new-VOD "split" the cost basis, in this case not so.
    The cash dividend is "qualified".
    The VOD shares retain the original cost basis, in fewer shares.

     

    So, say 100 VOD purchased @$28 on some date prior, you will have:
    54.54545 VOD at a new basis of $51.33 (==$28*11/6).
    26 VZ at a basis of $0.
    Cash of $493 + residual from partial shares of VZ

     

    The original date of the VOD purchase *should* determine the holding period of the new-VZ and new-VOD shares (aka. if it is "long term"). Note, I could be wrong about the new-VZ holding period aspect, but the new-VOD is pretty clear cut.
    27 Feb, 03:40 PM Reply Like
  • n8.310
    , contributor
    Comments (3) | Send Message
     
    VOD makes sense, thanks for the confirmation. VZ @ $0, or VZ @ opening on 2/24 (approx. $47.20).

     

    I was thinking of the VZ shares like a mutual fund with dividend reinvestment; basically brand new shares valued and dated at issue?
    27 Feb, 06:37 PM Reply Like
  • fokrab
    , contributor
    Comment (1) | Send Message
     
    curreyr

     

    Schwab has reflected the transaction in my account exactly as you stated. Well done. I purchased VOD in May 2012. The new _VZ shares are reflected as being purchased May 2012 with zero basis.

     

    Both the cash and the VZ shares will be taxed as a dividend. Glad I own this in my IRA.
    2 Mar, 10:50 PM Reply Like
  • jigneshs
    , contributor
    Comments (2) | Send Message
     
    Hi,

     

    I have exactly 100 VOD shares (ADR), after the split I got 54 VOD and 26 VZ. If I take the closing price of Friday, then the calculation shows a net loss for me.

     

    Closing price as of 02/21
    VOD: $40.57
    VZ: $46.35

     

    Cash payout: $4.93/VOD share

     

    Before split
    Value: 40.57 * 100 = $4,057

     

    After Split
    Value: (26 * 46.35) + (54 * 40.57) + (100 * 4.93) = $3,888.88

     

    Net: $3,889 - $4,057 = ($168) (loss)

     

    I was assuming it should have evened out, but maybe the loss of 4% was expected.

     

    Thanks
    J
    27 Feb, 04:32 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    And I assume we'll make up that 4% shortly with the stock moving higher because of the deal. Probably all factored in long before we ever knew about it.
    27 Feb, 04:35 PM Reply Like
  • curreyr
    , contributor
    Comments (678) | Send Message
     
    jigneshs,

     

    100 VOD post split would be:

     

    VOD = 54.54545. If you only got 54, then the other 0.54545 would be in cash (I got the fractional in shares).

     

    VZ = 26.30010. If you only got 26, then the other 0.30010 would be in cash (I did get cash for the fractional).

     

    Also, I see a close on 02/21 of VOD=$39 and VZ=$47.27 ...
    27 Feb, 04:48 PM Reply Like
  • jigneshs
    , contributor
    Comments (2) | Send Message
     
    Curreyr,

     

    Thanks for pointing out, I was looking at the incorrect price. VOD was indeed $39 & VZ=$47.27 on 2/21, which reduces the loss to about $36 (about 1%). This minor difference may be due to the market price did not accurately sync up with split ratio.

     

    Thanks for your help.
    27 Feb, 08:37 PM Reply Like
  • rickie76
    , contributor
    Comments (4) | Send Message
     
    What was the closing price of VOD/ADR on 2/21?
    28 Feb, 08:30 AM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    In a nutshell here it is I had 429 VOD its now 233.51 VOD I received 112 shares of VZ., I received 27.03 cash for fractional shares. On 2/4/14 I receive $ 4.93. per share of VOD that's the special dividend equals $2,114.97 . And next August there will be a 8% increase in VOD dividend in addition we have gained approx. 30% increase in share price of VOD so if you do all the math we have came out quite well.
    28 Feb, 12:27 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Here is an example when deal was announced I had 421 VOD @ approx. 29 per share = 12,209.00 Now have 233.51 x 41.50 approx. =$9690.66 plus 112 VZ x 47.50=5320.00 approx. .plus the $2,114.00

     

    So original 12,209

     

    Now $17,124 not including the 27.00 or 8% dividend increase ..so I personally have had a gain of $5,000 and a little more.

     

    It was a great deal for VOD shareholders..
    28 Feb, 12:34 PM Reply Like
  • Landsharks6
    , contributor
    Comments (92) | Send Message
     
    Since deal was announced back around Sept. 3rd. 2013
    28 Feb, 12:35 PM Reply Like
  • Gazziztsky
    , contributor
    Comments (2) | Send Message
     
    You could've sold just before the cash announcements and still had about the same as before.
    Was it Worth the wait? A lot of investors would probably think not!
    3 Mar, 06:21 PM Reply Like
  • Gazziztsky
    , contributor
    Comments (2) | Send Message
     
    You could've sold before the cash announcements and still had about the same amount. Even after the £51 billion cash return. A lot of investors will probably be wondering whether it was worth the wait.
    3 Mar, 06:21 PM Reply Like
  • mudflapiam
    , contributor
    Comments (6) | Send Message
     
    To complicate matters more I had sold Jan 15 $30 calls for $2.55. Looks like I will really take a bath.
    4 Mar, 10:32 AM Reply Like
  • beav43
    , contributor
    Comment (1) | Send Message
     
    has anyone rec'd their cash payout ? i havent and was told in was to go into the account march 4th
    5 Mar, 08:31 AM Reply Like
  • JustNorm
    , contributor
    Comments (3) | Send Message
     
    I received my cash payment of $492.80 on 3/4/14. I had 100 shares of VOD. I sold my new VOD (54 shares) on 3/6/14 for 2191.30 Scottrade showed a Tax Cost of 2158.30. I sold 26 shares of VZ on the same day for 1238.82 Scottrade showed a Tax Cost on that trade of 1265.43. Hope this helps somebody.
    5 Mar, 02:25 PM Reply Like
  • curreyr
    , contributor
    Comments (678) | Send Message
     
    What is "Tax Cost"?
    Is that their establishment of basis?
    Or, is that their establishment of taxable income?
    5 Mar, 04:42 PM Reply Like
  • candra
    , contributor
    Comments (3) | Send Message
     
    I've not yet had my cash payment credited to my brokerage account yet either, but i received my Verizon shares and my VOD shares has been decreased appropriately. Any idea who i should contact?
    5 Mar, 08:22 PM Reply Like
  • candra
    , contributor
    Comments (3) | Send Message
     
    Beave43 -- My cash payment hasn't been credited either, however the shares of VZ are in my account and my VOD shares were decreasesd by the appropriate amount. Everything is always does electronically on my account, Could it be that they are actually going to send a check>
    5 Mar, 08:24 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Depends. If you have a cash allotment or money market fund in the account, it should have gone in there. Where ever you dividends end up, that's where it should be. If you are sent a check for dividends then I guess they'll send you a check. I'm wary, however, different brokerages are doing it differently and some may even be holding for three days or some other fine print bull.
    5 Mar, 08:30 PM Reply Like
  • SkipK
    , contributor
    Comments (921) | Send Message
     
    Have not received the $4.90 in cash per VOD share either.
    did receive the VZ shares and the VOD reverse split.
    5 Mar, 08:31 PM Reply Like
  • candra
    , contributor
    Comments (3) | Send Message
     
    ok, my cash showed up in my brokerage account today.
    6 Mar, 12:35 PM Reply Like
  • Mikie713
    , contributor
    Comments (198) | Send Message
     
    Apparently they held it to scalp a few bucks for themselves. Gotta luv it.
    6 Mar, 12:43 PM Reply Like
  • SkipK
    , contributor
    Comments (921) | Send Message
     
    whew! the cash payment did arrive today.
    6 Mar, 12:46 PM Reply Like
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    I have shares held at Stott Trade and still have not seen the fractional shares (cash) related to the new VOD shares (I did receive the VZ fractional shares). I am wondering if the delay is related to the shares being ADRs?
    7 Mar, 06:47 AM Reply Like
  • nicholas davout
    , contributor
    Comments (1321) | Send Message
     
    Scottrade paid out the cash on March 3 to my accounts.
    7 Mar, 09:42 AM Reply Like
  • Jdeboer87
    , contributor
    Comments (199) | Send Message
     
    I just got it in my account today thanks.
    8 Mar, 09:02 AM Reply Like
  • jackinshy
    , contributor
    Comment (1) | Send Message
     
    what is the tax situation?
    15 Mar, 11:33 AM Reply Like
  • dale j
    , contributor
    Comments (3) | Send Message
     
    I received my statement and VOD came back in at a unit cost of $47.157 for some shares and $49.086 for the remaining shares. I'm at a loss. Still trying to get my answer from my broker why it traded on 2/21 for about $39.00 a share yet the cost was $47. and $49.00 a share
    16 Mar, 11:52 AM Reply Like
  • Guraaf
    , contributor
    Comments (1374) | Send Message
     
    Here is what I have found:

     

    $4.928 dividend on old VOD ADR
    .263001 of Verizon shares for each VOD ADR held
    6 new VOD for every 11 old VOD held

     

    Fractional shares are paid out in cash.
    I believe that Verizon fractional shares are paid at the rate of $47.
    VOD fractional shares are paid at the rate of $41.63

     

    Maybe others can confirm if these numbers make sense to them.
    22 Mar, 01:00 PM Reply Like
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