club_cafe: Re: Entering a 5% Stock Dividend

iras1 on

It may take several days for the cash-in-lieu to appear in your account.

Ira Smilovitz

In a message dated 9/11/2005 10:19:14 P.M. Eastern Daylight Time, kpg625@bivio.com writes:

IraS1@aol.com wrote:
> A stock dividend of this sort is a split. A 5% stock dividend is a 1.05:1
> (or 105:100 or 21:20) split. Note that you will receive either fractional
> shares, or more likely, cash-in-lieu of the fractional shares.
>
> Ira Smilovitz

Thanks Ira. I could not get the stock dividend to match out
on my 70 shares. Bivio converted it to 73.5 shares when in
fact we have 73 share. I will look to make sure that the
remainder of the money went into cash. But everything else
(brokerage balances) looks correct. If I can't find the
error I will be back. <g>

Kevin Gillogly

Kevin Gillogly on

IraS1@aol.com wrote:
> It may take several days for the cash-in-lieu to appear in your account.

Ira,

That is exactly what happened. The Record date is Sept. 1.
On Sept. 2 we received 3 shares (instead of 3.5 shares to
more accurately reflect the 5% stock dividend). The Payment
date is Sept. 15. In writing to our broker, they indicated
that the cash will come on Sept. 15.

So should I record the 3 shares on Sept. 2 and the
fractional cash on Sept. 15?

How should I do this in bivio?

Thanks
Kevin Gillogly

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