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Member
Originally Posted by BlackPeter
Well, while I can't comment on your Australian broker - my experience with DB in that regard is different.
I remember several occasions where they bought cheaper than my BUY limit ... and it is as well not unusual that they sell my orders for a better price than my sell limit.
I'll see how my little order goes today then. Last sell price is 9.9c which I am bidding to buy at but best bids in depth are 9.6c so there is room for a better price.
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new platform coming from FLINT. Probably another hopeless platform like SH.
NZherald
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Junior Member
I'm told Sharesies don't allow you to participate in DRP, this is a serious disadvantage, Is this correct?
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Member
Originally Posted by Bob
I'm told Sharesies don't allow you to participate in DRP, this is a serious disadvantage, Is this correct?
That is correct. All dividends get paid into your Sharesies wallet
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Originally Posted by Bob
I'm told Sharesies don't allow you to participate in DRP, this is a serious disadvantage, Is this correct?
It's not a serious disadvantage, though. DRP can be good or bad - and one frequently ends up with additional shares which are ways too dear (every time the SP drops after the DRP event ...).
The discount against market price is (for a small number of shares) peanuts. If you hold larger number of shares, then it anyway makes sense to use a different trading platform and hold the shares by yourself.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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Member
You can transfer your shares out of Sharesies then get DRP.
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Originally Posted by Bob
I'm told Sharesies don't allow you to participate in DRP, this is a serious disadvantage, Is this correct?
You could once you have received the dividend, purchase more shares on market in the same company. So I do not really see a huge disadvantage, except maybe that you have to pay a little bit of bro.
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Originally Posted by BlackPeter
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The discount against market price is (for a small number of shares) peanuts. If you hold larger number of shares, then it anyway makes sense to use a different trading platform and hold the shares by yourself.
Please correct me if I am wrong, but the discount against market price is often used quoting the price cum dividend? Therefore the discount should be as much in % terms as the dividend being paid, if not, the discount is actually no discount at all?
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Member
Originally Posted by Bob
I'm told Sharesies don't allow you to participate in DRP, this is a serious disadvantage, Is this correct?
Correct. When you use Sharesies, any share registry functions like enabling DRP are not available, because you don't actually own a anything according to companies actual share registry.
In regards to companies saying their customer funds being are "held in trust", "held in nominee" you are still relying on them to transfer it to a nominee or trust account in the first place... we've seen what has happened to other companies that say they do this, here is one recent example:
https://www.odt.co.nz/star-news/star...ver-wages-rent
I'm not saying this will happen to Sharesies, but it is certainly not impossible.
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Member
Originally Posted by blackcap
Please correct me if I am wrong, but the discount against market price is often used quoting the price cum dividend? Therefore the discount should be as much in % terms as the dividend being paid, if not, the discount is actually no discount at all?
VWAP 5 days ex-dividend is pretty normal. It is always advisable to review the actual wording of each companies DRP before deciding to participate or not.
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