NYSE Rule Change Regarding Dividend Notifications to be Effective February 1, 2018

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As we noted here, the NYSE proposed, and the SEC approved, a rule change to require NYSE listed companies to provide notice to the NYSE at least ten minutes before making any public announcement with respect to a dividend or stock distribution, including when the notice is outside of Exchange trading hours.  In its annual guidance memo to listed companies, the NYSE noted the new rule will be effective February 1, 2018.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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