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system
what does a dividend will not be quoted ex mean?
user
one occastion where "will not be quoted ex" is used is when a corporate action is occurring such as a spin-off.  in such a case, the rights to, and the spin-off itself may be quoted separately on the home country exchange.  however, if the company is based abroad, it may not be worth the expense for them to have an additional securities listing on the local (us) exchange. for example:  in november 2016, yamana gold (tsx: yri, nyse: auy) announced it will have an initial public offering of a spin-off (brio gold, to be listed on tsx as brio).  existing shareholders received a right to one share of the spin-off for every 16 shares they held of yri (or auy).  these rights were separately traded in advance of the ipo of the spin-off on tsx under "yri.rt", but the prospectus they stated that the rights "will not be quoted ex" on nyse, i.e. there was no separate listing on nyse for these rights. the wording seems counter-intuitive, but i suspect that is the attorneys who were preparing the prospectus used those specific words as they may have a very specific meaning (e.g. from a statute or previous case).
assistant