Thanks Ira. One last one. The IR shares were sold the
morning of 11/18 (aapprox 10 am). Do we get the dividend?
IraS1@aol.com wrote:
> DRE will be paying a dividend on 11/28. If you still owned IR as of the market close on 11/18, it will pay a dividend on 12/2. PAYX paid its dividend on 11/15. MO should go ex-dividend in mid-December.
>
>
>
> You can enter the DRE (and IR, if necessary) dividends now. Credit them to the "suspense" account so that your broker account in bivio will match your actual broker   account. You can then process the withdrawals without any problem. Just remember to get one member to delay depositing his/her check until after the last dividend clears the broker. As dividend(s) are credited to the brokerage account, transfer the funds from suspense to broker. None of this will have any impact on your tax calculations.
>
>
>
> Hope this helps.
>
>
>
> Ira Smilovitz
>
>
>
> In a message dated 11/20/02 4:27:31 PM Eastern Standard Time, minesman@bivio.com writes:
>
>
>
> Looking at our portfolio, Duke-Weeks Realty (DRE),
>
> Ingersol-Rand(IR), Paychex(PAYX), and Philip-Morris all pay
>
> dividends. I've verified that we will have one more dividend
>
> distribution from DRE at month-end.  I believe the same
>
> applies to IR. MO and PAYX are iffy.
>
> How do I enter this info in Bivio? Do I have to wait until
>
> the paid-date of the dividend  before closing out the books
>
> (roughly a week or so) or can I enter the figures now if I
>
> know what they are. I'd like to distribute the club funds as
>
> soon as possible. What I dont want to do is cut any corners,
>
> especially if there are tax implications.
>
> Regards.

> is your club a dividend catching club????

Brandon, anyone/club/etc. that purchases a stock that pays dividends...gets
dividends. There's no such thing as a dividend-catching club.

Lynn

Brandon,

While Bivio is open to all types of clubs, the majority belong to clubs are
following a long-term, buy-and-hold, fundamental growth strategy. What you
are talking about is short-term, get-rich-quick crap that 99.9% of this
board has no interest in.

Do you know the statistics of success for short-term invsesting? Have you
ever figured out the compounded rate of return on what you could earn over
your lifetime (you're 26, right?) by simply dollar-cost-averaging a set
amount of money every month?

Here's a tip from someone a lot older. Don't be foolish. You're going to
turn 50 years old someday and wonder what the Hell you were thinking when
you were a kid! You have an opportunity right now to retire early and in
total comfort...something that many of us were too arrogant or stupid to
figure out when we were 26. Wake up.

If you insist on this destruction path, let me help you out. Here's a link
to an excellent portal to all the technical/short term/day trading boards
and websites you can imagine. http://www.tradersworld.com/links.htm

Lynn Ostrem, Minneapolis
garbagecop@foxinternet.net

is your club a dividend catching club????
----- Original Message -----
From: "BERTRAM FRANCIS" <minesman@bivio.com>
To: <club_cafe@bivio.com>
Sent: Wednesday, November 20, 2002 4:04 PM
Subject: club_cafe: Re: Re: K-1's for 2002


> Thanks Ira. One last one. The IR shares were sold the
> morning of 11/18 (aapprox 10 am). Do we get the dividend?
> IraS1@aol.com wrote:
> > DRE will be paying a dividend on 11/28. If you still owned IR as of the
market close on 11/18, it will pay a dividend on 12/2. PAYX paid its
dividend on 11/15. MO should go ex-dividend in mid-December.
> >
> >
> >
> > You can enter the DRE (and IR, if necessary) dividends now. Credit them
to the "suspense" account so that your broker account in bivio will match
your actual broker account. You can then process the withdrawals without any
problem. Just remember to get one member to delay depositing his/her check
until after the last dividend clears the broker. As dividend(s) are credited
to the brokerage account, transfer the funds from suspense to broker. None
of this will have any impact on your tax calculations.
> >
> >
> >
> > Hope this helps.
> >
> >
> >
> > Ira Smilovitz
> >
> >
> >
> > In a message dated 11/20/02 4:27:31 PM Eastern Standard Time,
minesman@bivio.com writes:
> >
> >
> >
> > Looking at our portfolio, Duke-Weeks Realty (DRE),
> >
> > Ingersol-Rand(IR), Paychex(PAYX), and Philip-Morris all pay
> >
> > dividends. I've verified that we will have one more dividend
> >
> > distribution from DRE at month-end. I believe the same
> >
> > applies to IR. MO and PAYX are iffy.
> >
> > How do I enter this info in Bivio? Do I have to wait until
> >
> > the paid-date of the dividend before closing out the books
> >
> > (roughly a week or so) or can I enter the figures now if I
> >
> > know what they are. I'd like to distribute the club funds as
> >
> > soon as possible. What I dont want to do is cut any corners,
> >
> > especially if there are tax implications.
> >
> > Regards.

Well there could be a club that buys before the ex-dividend date, and sells
directly after it and moves to a second stock with an up coming dividend. A
club that has strategy for "catching" dividends would be in fact a dividend
catching club!!
----- Original Message -----
From: "Garbagecop" <garbagecop@foxinternet.net>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Wednesday, November 20, 2002 6:51 PM
Subject: Re: club_cafe: Re: Re: K-1's for 2002


>
> > is your club a dividend catching club????
>
> Brandon, anyone/club/etc. that purchases a stock that pays
dividends...gets
> dividends. There's no such thing as a dividend-catching club.
>
> Lynn
>
>
>

Thanks Lynn. Took me a while to figure out what
dividend-catching meant. That's why I never responded to his
query. As a club, we followed the NAIC's buy-and-hold
strategy. Interest & support within the club waned to the
point where it was just best for us to disband. Hopefully we
can regroup at a later date.
The process of closing out the clubs books became a bit more
complicated than any of us in the club expected. As the
treasurer, this forum has proven to be a god-send.
 Thanks.
Bertram Francis, Connecticut
bhfrancis@hotmail.com
.
Garbagecop wrote:
 Brandon,

 While Bivio is open to all types of clubs, the majority
 belong to clubs are
 following a long-term, buy-and-hold, fundamental growth
 strategy. What you
 are talking about is short-term, get-rich-quick crap that
 99.9% of this
 board has no interest in.

 Do you know the statistics of success for short-term
 invsesting? Have you
 ever figured out the compounded rate of return on what you
 could earn over
 your lifetime (you're 26, right?) by simply
 dollar-cost-averaging a set
 amount of money every month?

 Here's a tip from someone a lot older. Don't be foolish.
 You're going to
 turn 50 years old someday and wonder what the Hell you were
 thinking when
 you were a kid! You have an opportunity right now to
 retire early and in
 total comfort...something that many of us were too arrogant
 or stupid to
 figure out when we were 26. Wake up.

 If you insist on this destruction path, let me help you
 out. Here's a link
 to an excellent portal to all the technical/short term/day
 trading boards
 and websites you can imagine.
 http://www.tradersworld.com/links.htm

 Lynn Ostrem, Minneapolis
 garbagecop@foxinternet.net

Bertram,

Closing your books will be considerably less daunting with
Bivio's tax forms. I've closed two clubs before (One a year
after I left! They called and asked for help! <G>) and we
did the taxes by hand for both.

They say that transferring stock is the most beneficial, but
we always cashed everything in, waited for the dividends,
audited the books, did the taxes, and were done with it!

Here's a little tip: Cut all the checks at the very END!
As long as no one has been paid, they still have a vested
interest in helping you finish up. It's surprising how
quickly they disappear after they get their money!

ALSO...put limited endorsements on the back of every check
that reads something to the effect of "Payable only if
cashed within 30 days". Or get money orders. In both of my
past clubs, people didn't cash them in time and we got more
interest from the broker! Avoid that at all costs!

Good luck! Lynn