This excerpt taken from the MO 8-K filed Mar 20, 2007.
When and How You Will Receive the Dividend
We will pay the dividend on the Distribution Date by releasing our shares of Kraft Class A common stock for distribution by Computershare, our distribution agent. The distribution agent will cause the shares of Kraft Class A common stock to which you are entitled to be registered in your name or in the street name of your bank or brokerage firm.
Registered Holders. If you are the registered holder of Altria common stock and hold your Altria common stock either in physical form or in book-entry form, the shares of Kraft Class A common stock distributed to you will be registered in your name and you will become the holder of record of that number of shares of Kraft Class A common stock.
Street Name Holders. Many Altria shareholders have Altria common stock held in an account with a bank or brokerage firm. If this applies to you, that bank or brokerage firm is the registered holder that holds the shares on your behalf. For shareholders who hold their Altria common stock in an account with a bank or brokerage firm, the Kraft Class A common stock being distributed will be registered in the street name of your bank or broker, who in turn will electronically credit your account with the shares of Kraft Class A common stock that you are entitled to receive in the Distribution. We anticipate that this will take three to eight business days after the Distribution Date. We encourage you to contact your bank or broker if you have any questions regarding the mechanics of having your shares of Kraft Class A common stock credited to your account.
Fractional Shares. Altria will not distribute any fractional shares of Kraft Class A common stock to its shareholders. Instead, the distribution agent will aggregate fractional shares into whole shares, sell the whole shares in the open market at prevailing market prices and distribute the aggregate cash proceeds of the sales pro rata (based on the fractional share such holder would otherwise be entitled to receive) to each holder who otherwise would have been entitled to receive a fractional share in the Distribution. Altria will pay all reasonable expenses incurred by the distribution agent in connection with such sale, including brokerage commissions. The distribution agent, in its sole discretion, without any influence by Kraft or us, will determine when, how, through which broker-dealer and at what price to sell the whole shares. Recipients of cash in lieu of fractional shares will not be entitled to any interest on the payment made in lieu of fractional shares.
Direct Registration System. Kraft Class A common stock will be issued as uncertificated shares registered in book-entry form through the direct registration system. No certificates representing your shares of Kraft Class A common stock will be mailed to you. Under the direct registration system, instead of receiving stock certificates, you will receive a statement reflecting your ownership interest in shares of Kraft Class A common stock. If at any
time you want to receive a physical certificate evidencing your whole shares of Kraft Class A common stock, you may do so by contacting Krafts transfer agent and registrar. Contact information for Krafts transfer agent and registrar is provided on page 8 of this Information Statement. The distribution agent will begin mailing book-entry account statements reflecting your ownership of whole shares and the fractional shares for which you will receive cash promptly after the Distribution Date. You can obtain more information regarding the direct registration system by contacting Krafts transfer agent and registrar. If you are entitled to receive less than one share of Kraft Class A common stock in the Distribution, a check will be included with your account statement. We currently estimate that it will take two to three weeks from the Distribution Date for the distribution agent to complete these mailings.