lt cap,

Thanks for the exposition - makes perfect sense.  I've been buying NOK as well as all other networkers from a 'regular' account. So used to them having no dividend, it never occurred to me to put it in a SEP or Roth IRA - always thought that those accounts should have high-yielding stocks - INTC, VZ, F - all the 'usual suspects'. But owning a very sizeable amount of NOK, putting the dividend in a non- or deferred taxable account is almost a no brainer (slaps forhead) - the sheer size of the dividend, around 2%, give or take, is substantial. I get it - it's taxed no matter what you do with the dividend in a 'regular' acccount - you're buying shares at what you consider an attractive price is a separate issue and action.

I'm rather pissed that NOK gave no thought to its NA customers when it turned the stock-swap into a taxable 'forced sale' action. Totally unnecessary it seems to me, given that it hits holders with a sudden unanticipated tax action. And their dividend is probaby subject to the usual European 25-30% tax, and then Uncle Sam has a go at you.