Yesterday I received my TLS dividend statements and notice in the fine print that the residuals have all been paid to charity.
According to the Telstra dividend Reinvestment Plan rules:
"7.3 Subject to rule 7.4, a residual balance in a Participant’s DRP account
will be aggregated with any further Dividend Payment credited to
the DRP account.
7.4 Where:
(a) the DRP is suspended or terminated by the Company pursuant
to these Rules; or
(b) the Participant ceases to participate in the DRP for whatever
reason,
the Participant is taken to have directed the Company to donate
any residual balance in the Participant’s DRP account on behalf of
the Participant to one or more registered charities, determined by
the Company from time to time. Participants will not be issued with
a receipt in connection with such a donation."
I sent an email to Link Market services but no response yet.
Anyone else complaining or am I the only tight ar-e?
DRP Residuals???
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