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Get a Special Dividend of $10.50 (28% Yield)

Kaydon Corporation (KDN) announced that the New York Stock Exchange has established March 27, 2012, as the ex-dividend date for its $10.50 per common share special dividend recently declared by the Board of Directors on February 22, 2012. The dividend of $10.50 per common share is payable on March 26, 2012 to stockholders of record as of the  close of business on March 5, 2012.

Kaydon Corporation is a leading designer and manufacturer of custom engineered, performance-critical products, supplying a broad and diverse group of alternative energy, military, industrial, aerospace, medical and electronic equipment, and aftermarket customers.  KDN is trading at $37.50 with a normal dividend yield of 2.1%.  The Special Dividend of $10.50 is a 28% yield on the current trading price.

Pursuant to the rules of the New York Stock Exchange, for dividends of this size relative to a company’s stock price, the date on which that  company’s shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payable date.  etween the record date and the ex-dividend date the shares trade with a due-bill representing the special dividend.

As a result, shareholders who sell their shares prior to the March 27, 2012, ex-dividend date will also be selling their right to receive the special dividend. Kaydon Corporation common stock will begin trading on an ex-dividend basis beginning March 27, 2012, in accordance with New York Stock Exchange rules.


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