Thanks to those who replied.
Firstly, no: There is no holding account the reminder is allocated to
for next dividend: All my other companies do that, but this one is unique.
I've been thinking: the franked dividend is the 'cost' of the new
share(s) regardless of their unit cost.
What lead me to this conclusion, was in the case where my franked
dividend would 'purchase' 1.6 shares, then it is rounded up to 2 full
shares: So then I would be facing the situation where I had money
'appear' if I worked on the unit cost of 2 shares: but the real cost is
the franked dividend: So I'm going to run with the 'unit' cost not being
important, but the franked dividend amount being the 'cost' of the new
share issue.
Thanks all.
On 8/6/23 12:40, [email protected] wrote:
On Wed, 7 Jun 2023 17:00:34 +0000 (UTC)
mjchurchil--- via gnucash-user <[email protected]> wrote:
I guess I'm not clear on what is happening. Do you end up with 1 or
1.25 shares in your brokerage account? Mike
well I have a credit left in an account associated with the share
holding at the company
so I start with $XX.yy in that account,
a dividend is paid into that account,
then an integral number of shares are purchased from that account,
and there is again a remainder which now is $AA.bb
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