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Full Dividend Reinvestment
#11
(01-22-2018, 05:20 PM)cannew Wrote:
(01-21-2018, 10:00 PM)Kerim Wrote: Do you mean something other than just regular old reinvestment of dividends in the company that issues them? I thought that most brokers offered free reinvestment. Vanguard does.

(01-22-2018, 09:16 AM)rapidacid Wrote: TD Ameritrade buys partial shares


TD Ameritrade will initiate the purchase on the first business day following the dividend payable date or the first business day following confirmation of receipt of dividend funds. If the combined funds do not total the purchase price of at least one share, the distribution will not be reinvested"

Hmmm, gonna have to look into that. Ive been with TD for some time and never had that problem.
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#12
(01-22-2018, 05:20 PM)cannew Wrote:
(01-22-2018, 09:16 AM)rapidacid Wrote: TD Ameritrade buys partial shares

TD Ameritrade will initiate the purchase on the first business day following the dividend payable date or the first business day following confirmation of receipt of dividend funds. If the combined funds do not total the purchase price of at least one share, the distribution will not be reinvested"

If you look at the paragraph that immediately precedes the quote, you will find:


Quote:TD Ameritrade will combine eligible cash distributions from my account with those from other TD Ameritrade clients requesting dividend reinvestment in the same security and use these combined funds to purchase securities on my behalf and on behalf of these other clients. ...


I've always received partial shares for over 30 years. Even when Waterhouse Securities was one of the predecessors to TD Ameritrade and a touch-tone phone trade commission (the cheapest method to trade) was $39.95.
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#13
I've used Vanguard and Fidelity

Both buy fractional shares when reinvesting the divi's


I used both at the same time for years; however, when I transferred everything over to Fidelity all fractional shares were converted to cash. Fractional shares did not transfer.
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#14
(01-22-2018, 05:20 PM)cannew Wrote: TD Ameritrade will initiate the purchase on the first business day following the dividend payable date or the first business day following confirmation of receipt of dividend funds. If the combined funds do not total the purchase price of at least one share, the distribution will not be reinvested"

Interesting ... because I saw XXX.34623 shares all over my account I made a bad assumption they just bought partial shares under all conditions ... good to know

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