02-21-2014, 10:59 AM
(02-21-2014, 09:59 AM)Star Wrote: When you say 7.7 here, do you mean this is a DRIP? How can you attain fractions?
This can happen in a DRIP, but many brokerage companies also will provide the same service. That is, for no fee, they will reinvest the full amount of the dividend back into the companies that paid them. Since it is extremely unlikely that the dividend will happen to equal a round full share price, you get fractional shares.