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Sept. 6, 2019, 7:25 a.m. EDT

Altaba declares distribution price as part of liquidation plan, which is less than original estimates

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By Tomi Kilgore

Altaba Inc. declared Friday a pre-dissolution liquidating distribution of $51.50 in cash per share this month, which was less than originally estimated. The distribution will be paid on Sept. 23 to shareholders of record on Sept. 16. The distribution is part of Altaba's plan to liquidate and dissolve the investment company, which assets consist primarily of China-based e-commerce giant Alibaba Group Holding Ltd. /zigman2/quotes/201948298/composite BABA -4.37% stock. When the Altaba announced board approval of the liquidation and dissolution plan on April 2, the company had estimated a fourth-quarter distribution of between $52.12 to $59.63 per share. Since then, Alibaba's stock has lost 1.5% through Thursday. Altaba's stock was still inactive in premarket trading, while Alibaba shares gained 0.5%. Year to date, Altaba shares have rallied 20.2% and Alibaba's stock has surged 30.6%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.39% has gained 18.7%.

/zigman2/quotes/201948298/composite
US : U.S.: NYSE
$ 169.13
-7.72 -4.37%
Volume: 14.59M
Oct. 18, 2019 6:30p
P/E Ratio
30.26
Dividend Yield
N/A
Market Cap
$440.34 billion
Rev. per Employee
$781,259
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/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
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