Attention, those of you who own Jefferies Financial Group (JEF): JEF has announced a special dividend consisting of a spin-off of shares of Spectrum Brands (SPB). More information on the spin-off can be found here. As part of this spin-off, holders of JEF will receive 2.5 shares of SPB for every 100 shares of JEF owned on the date of record, September 3,
On October Trade Day, you will sell the shares of SPB you have received, and apply the proceeds to your Stake as a dividend.
Lattco PRO/AutoPilot Clients: Please sell your extra shares of SPB first thing Monday morning. Once the shares are sold please contact us, and we will adjust your account for you.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.