Synovus: Record date for spinoff of Total Systems Services shares is Dec. 18 |
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Published
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Fri, 30 Nov 2007 22:45
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SAN FRANCISCO (Thomson Financial) - Synovus Financial Corp. late Friday said the record date for for the spinoff of its shares of Total Systems Services Inc. to Synovus shareholders is Dec. 18.The Columbus, Ga.-based financial-services company currently owns some 80.7% of Total Systems Services, or around 159.6 million shares.The shares owned by Synovus will be distributed Dec. 31. The spinoff will be tax-free to Synovus and its shareholders, the company said.Also late Friday, Total Systems Services set Dec. 17 as the record date for its previously announced pre-spinoff special cash dividend of $600 million to its shareholders, including Synovus, which will receive about $485 million. This dividend will also be paid on Dec. 31.Synovus shares closed the regular session up 58 cents at $24.89. Total Systems Services shares were up 24 cents at $28.04.Brigid Gaffikinbg/bg/khCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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