Alpine Total Dynamic Dividend Fund (NYSE: AOD) And Alpine Global Dynamic Dividend Fund (NYSE: AGD) Announce Completion Of Reverse Stock Splits

Alpine Total Dynamic Dividend Fund (NYSE:AOD) and Alpine Global Dynamic Dividend Fund (NYSE:AGD) announced today that the previously disclosed 1 for 2 reverse stock split for each Fund was executed today prior to the opening of trading on the New York Stock Exchange. Trading of the Funds’ shares on a split-adjusted basis will begin today under new CUSIP numbers of 021060207 for AOD and 02082E205 for AGD.

As a result of the reverse stock splits, every two outstanding shares were converted into one share, thereby reducing the number of outstanding shares by a factor of two. For AOD, the number of outstanding shares was reduced from 217,485,664 to approximately 108,742,832. For AGD, the number of outstanding shares was reduced from 25,206,164 to approximately 12,603,082. Each shareholder will hold the same percentage of the Funds’ outstanding common shares immediately following the reverse stock split as held immediately prior to the split, subject to adjustments for the intended sale of fractional shares resulting from the transaction. Shareholders will be paid cash for any fractional shares that may result from the reverse split, except for shareholders participating in the Funds’ Dividend Reinvestment Plan, who will receive fractional shares.

Shareholders of record will receive a letter with additional information regarding the reverse stock split from the Funds’ transfer agent, Boston Financial Data Services, Inc. Any holders of certificates representing pre-split shares of the Funds’ common shares, upon submitting their pre-split certificate shares, will receive non-certificated post-split shares of the Funds’ common stock (i.e., a shareholder's holdings of post-split shares will be reflected only in the Funds’ record books - no new share certificates will be issued). Please note that holders of certificates will not be able to trade their shares until they surrender their pre-split share certificates. However, they will continue to receive dividends or other distributions.

If you liked this article you might like

Which Market Sectors Will Flourish With the Fed Rate Hike?

Ex-Dividends To Watch: 3 Stocks Going Ex-Dividend Tomorrow: AGD, BGX, EFT

Wednesday's Ex-Dividends To Watch: AGD, ETO, EFR

Dividend Watch: 3 Stocks Going Ex-Dividend Monday: MDLY, AGD, AWP

Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Tomorrow: AGD, BWG, VET