This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gaylord Entertainment Company’s 3.75% Convertible Senior Notes Convertible Through Ex-Dividend Date Of Special Dividend

Gaylord Entertainment Company (NYSE: GET) today provided notice to the holders of its 3.75% Convertible Senior Notes due October 1, 2014, that the Notes are convertible from August 21, 2012 through the ex-dividend date for an anticipated special dividend that will be payable if the Company declares the dividend and completes its previously announced intention to reorganize and elect to be treated as a “real estate investment trust” or “REIT” for federal income tax purposes. There is no assurance that the dividend will in fact be declared.

The one-time taxable dividend, if declared, is expected to be payable in cash or shares of the Company’s common stock, at each shareholder’s election, subject to a cap on the total amount of cash of 20% of the total amount of the special E&P distribution. The earliest date on which the Company expects to declare the special dividend is November 2, 2012, and, if declared on that date, the special dividend would be payable to shareholders of record on November 13, 2012, resulting in an ex-dividend date of November 8, 2012. The Company issued a press release publicly announcing the proposed reorganization and proposed special dividend on May 31, 2012 and included a copy of the press release, a transcript of the conference call and the Purchase Agreement as exhibits to two separate reports on Form 8-K filed with the Securities and Exchange Commission on May 31, 2012.

The Indenture under which the Notes were issued provides that if the per share value of the special dividend exceeds 10% of the last reported sale price of the Company’s shares on the trading day immediately preceding the declaration date, the Notes will become convertible during a period beginning 55 business days prior to the ex-dividend date of such distribution and ending on the business day immediately preceding the ex-dividend date for such distribution.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs