NYSE Amends Dividend and Stock Distribution Notice Requirements

NYSE Amends Dividend and Stock Distribution Notice Requirements


By: Stuart H. Gelfond, Craig R. Bergmann

Recently, the Securities and Exchange Commission (the “SEC”) approved proposed amendments to the New York Stock Exchange LLC (the “NYSE”) Listed Company Manual (the “Manual”) requiring listed companies to provide the NYSE with notice at least ten minutes before making any public announcement regarding a dividend or stock distribution, even when the public announcement is made outside of the NYSE's trading hours. The amendments to the Manual were effective as of August 14, 2017.

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