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| Author |
Messages |
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Dan Abraham
Cambridge, MA
www.iclub.com/support
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| 04/16/2007 1:26 PM |
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From the files of ICLUBcentral Technical Support
Issue:
On 3/30/2007 Automatic Data Processing, Inc. [ADP] distributed 0.25 shares of Broadridge Financial Solutions, Inc. [BR] for each share of ADP owned in a regular spinoff.
Cause:
This is a normal spinoff, as discussed on the company website at http://www.investquest.com/iq/a/adp/main/TaxBasisLtr-spreadsheet.mailing.pdf
Resolution:
Enter the spinoff transaction in accordance with the instructions at
http://www.iclub.com/support/kb/default.asp?page=normal_spinoff.
Here's the information you need for the spinoff:
1. Spinoff date - 3/30/2007
2. Parent company - Automatic Data Processing, Inc. [ADP]
3. Remaining basis percentage of Parent Company, [ADP] - 90.33.
4. Number of shares held in parent company - provided by software.
5. There is one daughter company - Broadridge Financial Solutions, Inc. [BR]
6. Number of shares of BR received - This will be the number of shares owned in ADP multiplied by 0.25 (make sure to include fractional shares).
7. Price per share of daughter company - $19.58.
8. Cash received in lieu of fractional shares - take from broker statement. |
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Dan Abraham
VP of Customer Care
ICLUBcentral Inc.
http://www.iclub.com/support
Makers of the world's most popular investment club tools.
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