It’s quite possible this will be the last dividend ever paid to shareholders by radio ratings service Arbitron. In fact, it accounts for the possibility that its sale to Nielsen might close before the cut-off date for shareholder eligibility is reached – and because of that, we know how much of the dividend is piling up on a daily basis.
The quarterly dividend will be ten cents a share of common stock, and will be paid on or about 7/1/13. There’s still time to get in on this — the disbursement will go to shareholders of record as of 6/17/12.
However, if the sale of the company to Nielsen closes before 6/17/13, shareholders will receive a pro-rated to the tune of about a tenth of a penny a day starting 3/15/12. To put it in precise terms, the daily value of the dividend is $0.001063829787234 per share.
RBR-TVBR observation: If you are gifted with a vivid imagination, perhaps you can visualize that piling up – each day a little blob of copper shows up in your Arbitron stock portfolio, and after a week and a half of so, they all roll together and form themselves, “Terminator 2” T-1000-style, into a shiny new penny. Then do that 50 times — it won’t take quite a year and a half — and you’ll be able to fill up a penny coin sleeve and get down to the bank to make a deposit.