Hey I haven’t participated in any DRP of any type for a very long time. How does FMG hand the residue?
Last century when I had CBA shares, their DRP used to round up to the nearest share. This was great when you only had one share, because the next dividend you would double your holding to two shares.
They later changed it to round down, but then keep a running balance of “unused “ part of the dividend.
eg. Say your dividend was $750, and the DRP price is $20. You would then get 37 shares, and the remaining $10 is held to be added to the next dividend, assuming you’re still participating next time.
like I said, this is what happened with CBA last century.
What does FMG do today?? Is that residue held over, paid in cash, or is it lost each time??
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