How to enter the Masco (MAS) spinoff of Top Build (BLD)
On June 30th, Masco Corp (MAS) spun off Top Build (BLD) into a separate company.
The details of the spinoff, including the information on security prices, and remaining basis percentages is taken from a PDF posted on the Investor relations section of Masco's website.
This is a standard spinoff, that can be entered using the following information:
- Spinoff date: Found on your broker statement. This will usually be either 6/30/15 or 7/1/15
- Parent Security:Masco (MAS)
- Remaining Basis Fraction: 89.11
- New security: Top Bulid (BLD)
- Shares of new security: Divide the club's shares of Masco by 9. Don't forget to include fractional shares when entering the transaction.
- Price per share of new security: 30.25
- Cash for fractional shares: enter any cash received as part of the transaction; otherwise leave this field blank.