Beneficial Holdings Inc.  (Pink Sheets:  BFHJ)

March 09, 2010 08:31 ET

Beneficial Holdings Inc. Updates Shareholders as to Dividend

LAS VEGAS, NV--(Marketwire - March 9, 2010) -  Beneficial Holdings, Inc. (PINKSHEETS: BFHJ) today updated shareholders as to the progress of the Company's dividend submission.

On March 3, 2010, FINRA requested that the Company provide it with a certificate of good standing from the State of Nevada. In addition, FINRA asked for a letter of clarification that no name would be changed. This request came at 6:00 p.m., so the Company could not respond until the next day. On March 4, 2010, the Company complied with the request.

In previous press releases, the Company erroneously referred to March 5, 2010, as the "ex date." The proper terminology was "record date." The Company listed the "record date" as March 5, 2010. The Company listed the "payable date" as March 10, 2010.

The transfer agent notified FINRA that the new inventory will be available March 10, 2010. 

This does not necessarily mean that the shares will be paid on March 10, 2010. They will actually be received by retail customers when FINRA sets a date for brokers to distribute the shares.

In response to several emails from shareholders, the Company refers shareholders to publicly available information about share dividends to determine who may receive shares and who may not. The following website by the Securities and Exchange Commission regarding share dividends:

The discussion states, inter alia, that, "Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date). If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid."

The Company urges caution in this regard. Our enterprise maintains its experience in the Central American gaming markets. As such, it suggests that shareholders consult their stock broker and their financial advisor to determine who will receive the dividend.


Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued gaming assets. The Company presently maintains one hotel and two physical gaming properties and is in the process of acquiring a third property while creating its online casino. The company funds its acquisitions with private investment capital with the intent to increase shareholder value while building a world-class gaming operation.

The Company's authorized shares are 903,000,000 to accommodate the six share dividend. Presently, there are 89,587,907 restricted shares, which will increase to 627,115,349 after the six share dividend. There are no more than 39,412,093 free-trading shares presently, which will be a maximum of 275,884,651 free-trading shares post-dividend. 

This release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update any statement to reflect future occurrences. 

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