Greetings, fellow Fools!I recently rolled my Roth IRA into Scottrade, and received my first dividend payment in this account on a new holding. I bought 20 shares of VGR, yet it shows 21 shares in my account holdings. The account history from yesterday's dividend payment shows:Vector Group LTD Dividend on 20 shares of VGR @ .40000 $8.00Stock Dividend of 1 Share of VGR $0.00None of my other stocks show a plus one, all are accounted for by what I've owned/bought. However, I haven't received any dividend payments yet.My home page shows that plus 1 stock as part of the regular positions, accounted for in my market holdings. Does anyone know what's going on with this strange-looking accounting? Will that extra share of VGR disappear later (especially if I call and ask about it)? Thanks in advance!
You've stumbled unto a quirk of VGR. The company pays an annual stock dividend of 5% (in addition to its cash dividend) and that just happens to be 1/20 as a fraction, so every 20 shares earned a new single share.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |