RE:RE:RE:Insider Information???? !!!!!!!!!!!Cray-cray, I'm weary of how you spell wary.
Consider where we are:
1. Pierre kindly reported that dividends have been declared -- after chasing BPO/BPY/BN for the info -- as expected.
2. Screens don't show the pending dividend and ex-dividend date at this moment because BPO is strangely sloppy in its reporting to the TSX. (In fact, BPO has liability to buyers and sellers for dividend claims if it didn't report within the 5-business-day safe harbour.)
From the TMX:
By following the steps outlined below, you will ensure that TSX is properly notified of approved dividends or distributions in order to set an ex-dividend date.
If an issuer fails to follow proper procedure when declaring dividends 1, TSX will hold the issuer liable for dividend claims made by both buyers and sellers.
When Declaring Dividends:
-
Provide notice to TSX by filing the
TSX Reporting Form 5 - Dividend/Distribution Declaration (via
TMX Linx) as soon as the dividend has been declared and at least five (5) trading days prior to the record date. You may also call the
TSX Dividend Administrator at 416-947-4663 if you have any questions.
-
Announce the dividend via a news release (please note that TSX does not accept a news release as a dividend notification)
-
Consider additional steps you may need to take to advise non-resident shareholders of the Dividend.
What if you make a mistake?
If you become aware of an error, contact TSX immediately as you may need to issue a clarifying news release. It is essential that the public record is accurate. If you have already filed a TSX Reporting Form 5, you will need to file an amendment using TMX Linx.
Please note that if you fail to follow the proper procedure and TSX is not appropriately advised of an error, TSX will hold the issuer liable for payment of dividend claims made by both buyers and sellers.
3. Maybe someone is worried about the dividend not being paid. Maybe screens for some brokers/websites/individuals only show declared dividends, meaning some investors aren't seeing BPO's big yields right now. It doesn't take much to move prices on these illiquid stocks, as you well know with you too-early work selling your Es.
4. The dividends are reported to the TSX and eventually are reflected on screens. Whew! Back to normal (whatever that is, but anyone who sold, or didn't buy, thinking there was a problem with the dividend was wrong).
In a nutshell, this might be a buying opportunity and definitely not a time to sell.