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Strategies & Market Trends : Dividend investing for retirement
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To: Ditchdigger who wrote (18542)2/4/2014 2:43:33 PM
From: chowder  Read Replies (1) of 34328
 
TD Ameritrade:

At market open on the business day after the pay date, we place a market order for all the DRIP shares we need to purchase. The average fill price for these orders is what will show on your account. Please contact us again if you have any additional questions.

Fidelity:

Dividend reinvestments are priced at the average price that the security is purchased by Fidelity.

Fidelity pre-identifies all customers that will be reinvesting their dividend and goes to the market to purchase shares three days prior to the payable date. We purchase as many shares as possible on a best-efforts basis, determine the average share price, and reallocate these shares proportionately to the customers that are reinvesting their dividend. This process typically results in a different reinvestment price than the price that the security is currently trading.
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