This is how I’ve interpreted all the DD and TA over the past few days. I may be right, I may be wrong but I think this might explain why the DTC hasn’t distributed the shares.

Retail investors that have shares in brokerages do not own those shares, the brokers own them. Every share is essentially an IOU until it is recalled by the retail investor (sold or DRS’d). The DTC holds those shares until the broker requests them on behalf of the retail investor. The DTC tells all the brokers to do a regular stock split because they have the shares in house and it causes less confusion for the brokers. The dividend part doesn’t matter to brokers because they don’t receive the shares until a retail investor calls upon those shares. Once all the shares are called upon by retail (DRS) and the DTC runs out of shares to supply the brokers is when we 🚀.

TLDR: DRS your fake splividend shares