Stocks/Earnings

Liberty Media Announces When-Issued Date of ‘C’ Shares

Stock Will Be Issued To Shareholders as Dividend 7/07/2014 12:45 PM Eastern
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Liberty Media said its Class C shares will begin trading on the NASDAQ exchange under the symbol "LMCKV" on a "when-issued basis from July 8 to July 23.

Liberty Media said its Class C common stock will begin trading on the NASDAQ Global Select Market under the symbol “LMCKV” on a “when-issued” basis from July 8 to July 23.

 

Liberty, headed by cabvle legend John Malone, first announced in May  it would issue two shares of Series C stock for each share of its Class A and Class B common stock on July 7 as a dividend.

 

However, Liberty said in a statement that because NASDAQ has established July 24 as the ex-dividend date for the dividend, and as a result of related “due bill” trading procedures, persons acquiring shares of Liberty’s Series A common stock and Series B common stock in the market through July 23, 2014 will still receive shares of Series C common stock in the Dividend. Liberty currently anticipates that the payment date for the Dividend will be 5 p.m., New York City time, on July 23. Liberty expects that the Series C common stock will begin trading in the regular way on the NASDAQ Global Select Market under the symbol “LMCK” beginning on July 24.

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