Build the dividend or distribution notice calendar
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the record date the lawyer supplies, the tool counts ten calendar days back for notice to the Exchange, and it counts a fresh ten calendar days if the record date changes. It also lists a notice at least ten minutes before any public announcement of a dividend or stock distribution, including an announcement outside trading hours. It flags a record date that falls on a Saturday, Sunday, or Exchange holiday. It does not complete the announcement.
- What the lawyer must review
- The NYSE 2026 Annual Guidance Letter and Regulation FD, 17 CFR § 243.100. The letter requires listed companies to notify the Exchange at least ten calendar days in advance of all record dates. The board of directors must approve a record date before it is submitted. A company that changes a record date must give another advance notice of at least ten calendar days. Publication by a press release or an SEC filing does not constitute notice to the Exchange. For cash and stock distributions, the notification goes through Listing Manager or to dividend@nyse.com. The letter also requires notice to the Exchange at least 10 minutes before any public announcement of a dividend or stock distribution, including when the announcement is made outside Exchange trading hours. Record dates should not be set on a Saturday, Sunday, or Exchange holiday. Where the terms of a security mandate a record date on one of those days, the announcement should make clear that the effective record date is the immediately preceding U.S. business day. The letter says a listed company may comply with the Timely Alert policy by a press release or any other Regulation FD-compliant method, and it lists dividend announcements among the examples of news the Exchange would generally consider material. Regulation FD § 243.100(a) requires public disclosure simultaneously for an intentional disclosure and promptly for a non-intentional disclosure. The lawyer completes the announcement.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes identifying points for review. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Check the current court or regulator requirements, prescribed form and attachments for the intended document and filing.
- Review operative clauses in the complete document, including definitions, cross-references, schedules and inconsistencies with the instructions.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.