FNF FNT split or reinvestment of dividend
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FNF FNT split or reinvestment of dividend Does anyone know how to account for this split? I know that in November sometime FNT shares will become FNF. Maybe then I will understand how to account for it. I got nothing from the company. What Amerittrade has done does not make sense and they do not care about the correct basis. After we recived 28 shares of FNT for our 27 shares of FNF (1.04%) , the price of FNF went to half, I guess cause they gave us 28 new shares. But what then is my current basis in FNF? Thanks in advance if anyone can help!! Hi Sandy,
<< What Amerittrade has done does not make sense and they do
not care about the correct basis. After we recived 28 shares of FNT for
our 27 shares of FNF (1.04%) , the price of FNF went to half,
>>
Yes, this was a spinoff. Because FNF got rid of FNT it is
no longer worth as much, but the shareholders now have stock in FNT in addition
to their shares of FNF.
<<But what then is my current basis in FNF?>>
Your basis in FNF is 47.18 % of what it used to be. Your
basis in FNT is 52.82% of the original FNF basis.
You can get all the particulars of this transaction on
IClub Central's website at
Let us know if you have any questions. Rip West Saint Paul, MN |
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