I do all my trading on the net with Ameritrade, previously with Waterhouse I did not have the dividend reinvestment option on the net (at least I didn't see it and can't hear well with doing it on the phone) so was content with collecting the cash. When Ameritrade took over they paid my cash dividends exactly on the pay date; now I have gone to automatic reinvestment and Ameritrade reinvests the dividends up to a week after pay date but always make sure it is on an up market day whereby cheating me on each reinvestment. What can be done about this? Or is this the way all brokers pay for this service? How many folk watch their dividends this close?
Posted by Machiavelli on :
I really don't care about dividends since im a trader not a investor... but i would say switch to Choicetrade.com
Posted by metal1 on :
most of the times i've noticed the divs have been reinvested the next business day following the pay date. i would call/email and complain. you can also contact the NASD, not sure how much leeway the brokerage has.