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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (9103)	5/26/2011 2:02:01 AM
From: Tapcon	Respond to of 34328

EKS, I have been looking at Algonquin on the Canadian side. One aspect of these cross-border plays, that I was unaware of for many years unfortunately, is that when you receive foreign exchange dividends, your brokerage may charge you a rip-off exchange rate to convert to US currency every time you receive a dividend...unless you can keep the foreign exchange in a sequestered account. That is one of the reasons I prefer to DRIP the dividends if possible rather than receive cash. I have accounts on both sides of the border and on the Canadian side until very recently, I had to phone every time I made a trade to do a "wash trade" to keep funds in US money mkt funds in the Canadian account. That way I could avoid the foreign exchange rip-off fees. But they will not allow the wash trade on dividends received.