Spirit paying a dividend on April 9?


MIRAMAR, Fla., March 30, 2020 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (NYSE: SAVE) announced today that its Board of Directors has approved the adoption of a limited duration stockholder rights agreement (the “Rights Agreement”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock outstanding as of the record date. The record date for such dividend distribution is April 9, 2020. The Rights Agreement expires, without any further action being required to be taken by the Spirit Board of Directors, on March 29, 2021.

That's the poison pill - a dividend paid out as rights - not money

I added today.

F it!!!

How would that work? Say you have 500 shares. We have 500 rights for doing what?

Here, I have learned of a new internet application called a search engine.....

https://www.google.com/search?client...ile-gws-wiz-hp

Search the website for WHACKMASTER. He has 1 or 2 billion posts on the subject.

I guarantee that SWA is spending considerable brain power at the management level trying to decide who to attack or buy once they get their feet back under themselves. They’ll likely not have another chance at stock prices this cheap once the market turns.

hahahahahahahhaahahahah

Could we be so lucky. I suspect they are circling their wagons trying to figure out how to ride this out, thinking at the rate we are going we won’t be competition anyway.

Circling the wagons is their immediate concern. But this is an unexpected opportunity with the Legacies and friends being forced to downsize pretty radically. SWA and probably some investment groups are seeing the possibility to gain market share, gates capacity etc. when this is over. Plans are at least being laid to that end.