An article in the LVRJ today said the MGM board approved a one-time
$8 stock dividend to "reward" investors with a cash payment.
Kerkorian owns 174 million shares, so he gets $1.39 billion of the
payout! His stock cost him an average of $16/share. Since he is
well past retirement age this may just be his "exit" strategy from
active involvement in the company ... but he didn't sell his stock.
More On Casino Stock
This concerns the MGM film company, not MGM Mirage.
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--- In vpFREE@yahoogroups.com, "brumar_lv" <brumar_lv@y...> wrote:
An article in the LVRJ today said the MGM board approved a one-time
$8 stock dividend to "reward" investors with a cash payment.
Kerkorian owns 174 million shares, so he gets $1.39 billion of the
payout! His stock cost him an average of $16/share. Since he is
well past retirement age this may just be his "exit" strategy from
active involvement in the company ... but he didn't sell his stock.