One of the companies to have made rapid strides through the course of the year is the energy company Houston Natural Resources Corp (OTCMKTS:HNRC) and going into the New Year it may be a good time for investors to take a look into it.
The company was actually in the news earlier this month after it provided confirmation about the fact that it was going to spin off its non-energy assets in a separate entity. The entity in question is going to be a fully owned subsidiary unit of the company named Worldwide Diversified Holdings Inc and following the spin-off, the existing shareholders of Houston Natural Resources Corp would be provided dividends in the same entity.
The major news from the whole announcement made by Houston Natural Resources Corp back on December 7 was the fact that shareholders were going to be awarded a stock dividend in the subsidiary unit. The dividend would be paid out to the shareholders on December 30, 2022, to all Houston Natural Resources Corp shareholders of record on December 16, 2022.
The dividend was going to be subject to an effective registration statement as well. The announcement had led to considerable interest in the Houston Natural Resources Corp stock at the time and perhaps it was not a surprise either.
The company announced at the time that the dividend was going to be a stock dividend valued at $1.75 in Worldwide Diversified Holdings shares for each share of Houston Natural Resources Corp that was held by a shareholder. It was earlier on this year on June 30, 2022, that the company had announced that its board of directors had provided the approval for the transfer of non-energy assets valued at $53,307,324 and that was to be done in exchange for shares in the new entity.