Just a quick one - am I right in assuming that Freetrade always rounds down on dividends? I’ve had a number paid today with more than a trailing .5p, and all have been this way. With previous brokers, it’s always been to the nearest whole penny. One which caught my attention was for 3.97p - rounded down to 3p?
Is this for fractional shares?
I’m not sure if they keep it in the background until you do reach a whole penny (your need to ask or do your own calculations) but I don’t see why they’d give put money that doesn’t exist either. It’s probably also on the drivewealth side. This is one of the issues with fractional shares, they are not the same as whole shares and do not have the same rights and entitlements as whole shares
No. Whole shares.
US? If it’s converted it’ll be rounded during the conversion
No. UK, whole shares.
Sounds odd. What company was it for?
3 examples from yesterday - CEUG, DPYG and GSPX.
They’d be rounded down to the nearest penny presumably since they can’t give you a unit of currency they doesn’t exist
But the traditional way of dealing with fractions of a penny in banking is to round to the nearest whole one - everything over. 5 is rounded up. The loss is offset by a statically similar number of transactions under. 5 being rounded down.
Anyone else getting Superman 3 vibes ?
I was thinking along similar lines. We have to keep an eye open for any new purchases of Ferraris by the Freetrade hierachy
Ha! I was going to put that in my OP but I didn’t think anyone would get the reference!
I’m not aware of this being traditional? Correct me if I’m wrong I don’t know. I’d have thought banks would be adverse to giving away money they don’t have.
There must be a cut off for rounding, I’ve had 0.1597p rounded up to 16p today. Marginal I know, but still small rounding up.