If your holding a parcel of MCL shares on the specified date (ex date), you will be offered shares. You can hold the minimum amount (about $500) or as many as you like, and you will be offered $5000 worth if you want them.
Sometimes they give you time to buy after they announce (date is after they announce it) and sometimes you have to be holding the day the annoucement comes out (date is before the day they announce).
In this case MCL have announced a record date rather than an ex date, which makes things a little unclear. I not sure if you have to be holding already, or if you can buy tomorrow and be entitled. Record date is usually around 5 days after the ex date. They announced record date Oct 15th.
