HON

[DividendGarden]

Honeywell will be giving a stock dividend as a spinoff of one of it's chemicals business.  I do own a lot of HON stock, wondering if anyone else does.



Link: http://seekingalpha.com/news/3207492-hon...ix-spinoff





Details: 

Honeywell (NYSE:HON) says it will pay a spinoff dividend of AdvanSix common shares on Oct. 1.

HON shareholders will receive one AdvanSix share for every 25 shares of HON stock owned on a pro-rated basis.
HON expects when-issued trading on the NYSE in AdvanSix will begin on Sept. 14, with regular-way trading beginning Oct. 3 under the symbol ASIX.

[DividendGarden]

wow, formatting really got messed up on that post, not sure why. It looked normal before submitting...

[crimsonghost747]

I do own HON, though with the amount that I have it won't be more than a couple shares that I'll be getting.
Does anyone have experience with how this works if fractional shares are not used? ie. If I've got 30 shares of HON, I'll obviously get 1 share of AdvanSix but what happens to the rest? Paid as cash? (but based on what price?)

[ChadR]

In the past for the PSX spin off from COP, I got cash for my fractional shares. Don't remember what price I got for them though.

[DividendGarden]

I'm pretty sure that you'll get cash for the fractional shares. You'll have more info after the date of record or ex-div date. They'll calculate how many shares will be created and what price.