Big News from Overstock
Overstock, the retail behemoth that never backs down from innovation, is serving up something special for its investors: a digital dividend. Yes, you heard it right. Don’t worry, this isn’t your grandma’s dividend; it involves shares of the shiny new Digital Voting Series A-1 Preferred Stock!
How Does This Work?
Here’s the scoop: for every ten shares of common stock you own, Overstock is generous enough to give you one shiny Series A-1 share. That’s right, if you’re a proud owner of Overstock’s common stock, get ready for a little extra something to flutter into your investment portfolio!
The Trading Platform
But wait—there’s more! The Series A-1 shares can now be traded on the cool new Pro Securities Alternative Trading System (ATS). Powered by Overstock’s crypto subsidiary tZERO, this platform boasts some seriously chic tech.
- Trade these new shares through a brokerage account set up with Dinosaur Financial Group.
- Clearing and custody services are handled by Electronic Transaction Clearing.
- And Computershare? Yep, they’re on deck as the transfer agent!
Key Dates to Remember
Put your calendars out and mark this: the record date for the dividend is September 23, 2019, with the grand distribution party scheduled for November 15, 2019. Don’t worry, your invitations are on the way—sometime after the notoriously slow delivery of the postal service.
What the CEO Has to Say
In a recent press release, Overstock’s CEO, Patrick Byrne, boasted about the company’s mission to create a “parallel universe” through a legally compliant, blockchain-based capital market. That’s some high-minded talk, but hey, if it means extra shares in my account, I’m all in!
What’s Next?
Last but not least, in case you need more reasons to keep an eye on Overstock, tZERO has just rolled out an Android app that supports major cryptos like Bitcoin (BTC) and Ether (ETH). Looks like Overstock is not only dipping its toes into dividends but diving headfirst into the crypto pool!
