NEW YORK, July 30, 2014 /PRNewswire/ -- S&P Dow Jones Indices announces the treatment of a stock dividend for S&P 500 constituent Discovery Communications Inc. (NASD: DISCA):
- Discovery Communications is paying a stock dividend of 1 share of Class C (NASD: DISCK) for each outstanding share of Class A (DISCA) and Class B (DISCB) and Class C. For index purposes, S&P Dow Jones Indices will add the Class C share line to the S&P 500 effective after the close of trading on Wednesday, August 6, the distribution date, in order to replicate the Class C shares being distributed to Class A shareholders. The Class C share line and the Class A share line will both represent Discovery Communications in S&P Dow Jones indices.
After the effective date of this action, the 500 companies in the S&P 500 will be represented by 502 trading lines. The other company represented by multiple trading lines in the index is Google Inc. (NASD:GOOG & GOOGL). S&P Dow Jones Indices announced in a press release dated March 11, 2014, that for companies that issue a second publicly traded share class to index share class holders, multiple class lines will be considered for inclusion if the event is mandatory and the market capitalization of the distributed class is not considered to be de minimis.
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