Quest Net says it will issue a stock dividend to its shareholders of three shares for every one held. I own 40
The company said the stock distribution was approved by the board as a way to thank shareholders after a profitable second half of the year. Let's Keep that Up!
Rule 144 (d)(3)(1) provides that securities acquired from the issuer as a dividend shall be deemed to have been acquired at the same time as the securities on which the dividend was paid. Shareholders who provide an Opinion of Counsel stating that the initial securities have been held for at least two years may have the restrictive legend removed pursuant to Rule 144 (k) and willbe issued new shares without restriction. Shareholders who have held the initial securities for at least one year may resell the dividend shares pursuant to Rule l44 (e)(f)(g)(h) and (i). An opinion of counsel will also be needed. If you are unsure as to compliance with Rule 144, please discuss this with your broker or securities attorney. The additional shares will not dilute the percentage of shares held by each shareholder since the distribution is pro rata.
The market price of the Company's common stock will not be reduced due to the dividend, as it would have been if the Company had declared a stock split.
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