Home / Knowledge / News / Textiles / Domtar splits 2-for-1 stock under 'due bill' procedures
Domtar splits 2-for-1 stock under 'due bill' procedures
31
May '14
Domtar Corporation announced that in accordance with the applicable rules of the Toronto Stock Exchange and the New York Stock Exchange, the "due bill" trading procedures of such stock exchanges will apply to Domtar's previously announced two-for-one stock split, which will take the form of a stock dividend whereby shareholders will receive one additional common share for each common share held. 
 
Shareholders on the record date of June 10, 2014 will be entitled to receive one additional share for every share they own on that date. As a result of the stock split, total shares of Company common stock outstanding will increase from approximately 32.5 million to 65 million.
 
A "due bill" is an entitlement attached to listed securities undergoing a corporate action, such as a share split. In this instance, the entitlement is to the share dividend. The common shares will trade on a "due bill" basis from two trading days prior to the record date (i.e., June 6, 2014) to the payment date (being June 17, 2014), inclusively (the "due bill period"). Any trades that are executed on the TSX or the NYSE during this period will be identified to ensure purchasers of Domtar's common shares receive the entitlement to the share dividend.
 
The common shares will commence trading on an "ex-dividend" basis on June 18, 2014, as of which date purchases of Domtar's common shares will no longer have an attaching entitlement to a stock dividend payment. The due bill redemption date will be June 20, 2014.
 
Shareholders do not need to take any action. Domtar's transfer agent will send to registered shareholders an advice under the direct registration system indicating the number of additional shares that they receive as a result of the stock split.
 
These additional shares will be held in book entry form and registered electronically in the transfer agent's recordkeeping system, unless a physical share certificate is requested by the registered shareholder. Beneficial owners with common shares held through a brokerage account will have their accounts automatically updated to reflect the share split.
 
As previously announced, the Company's subsidiary Domtar (Canada) Paper Inc. will redeem all of its outstanding exchangeable shares on or about June 2, 2014. As a result, the exchangeable shares will cease to be outstanding and the shares of Company common stock issued in exchange for the exchangeable shares will participate in the 2-for-1 stock split and all these shares will be entitled to receive the quarterly dividend.
 

Domtar Corporation


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search