DOUG Spin-Off FAQs
What was the distribution ratio for Douglas Elliman’s spin-off from Vector Group?
For every two shares of Vector Group common stock, stockholders received one share of Douglas Elliman Inc.’s common stock (e.g., if a stockholder owned 2,000 shares of Vector Group before the spin-off, the stockholder received 1,000 Douglas Elliman Inc. shares post-spin and continues to own 2,000 Vector Group shares). Stockholders were not required either to pay anything for the new shares or to surrender any shares of Vector Group common stock. No fractional shares of Douglas Elliman Inc. stock were issued.
Does Vector Group still own Douglas Elliman?
No. Douglas Elliman Inc. is now an independent, publicly traded company.
When was the spin-off completed?
The transaction was completed on December 29, 2021. Douglas Elliman’s common stock began “regular way” trading on the New York Stock Exchange on December 30, 2021 under the symbol “DOUG”.
What are Vector Group and Douglas Elliman’s quarterly dividends following the spin-off?
Douglas Elliman expects to pay a quarterly dividend of $0.05 per share, subject to approval by its Board of Directors. We expect that, subject to approval by our Board of Directors, Vector Group will continue its $0.20 per share quarterly dividend.
What is a Vector Group stockholder's tax basis in Vector Group and Douglas Elliman following the spin-off?
Please refer to Form 8937, posted here.