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Corporate Actions

  • As a stockholder, you are entitled to dividends declared by the companies you hold a position in. Dividends will be directly credited to your Syfe account.

    When will I receive my dividends?
    Under normal circumstances, the final dividend amount (i.e., original dividend minus the US withholding tax) will be credited to your account within 1-2 working days after the corporate action payment date.

    Note: Foreign companies listed on the US exchange may be subjected to further taxation. Brokers will only disburse dividends once the relevant taxes have been settled and this may result in receipt of dividends 2-4 working days after the declared corporate action date.

    How can I view the dividend payout record?
    You will be able to review dividend payout details in the monthly statements.

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  • If you have placed a Good Till Cancelled (GTC) limit order for a particular security, please note that your limit order price may be reduced if the security distributes dividends. The reduction typically happens on the dividend ex-date.

    This is because when dividends are paid to shareholders, the company is no longer holding that cash. Therefore, the value of the company should drop by the amount of the dividend paid. Subsequently, any pending GTC limit orders for the particular security will also be reduced accordingly.

    For example:

    A customer placed a GTC limit order to purchase 100 units of Stock A at $50 per share. Stock A's market closing price was $55 on the day prior to the ex-dividend date. 

    Assuming Stock A pays a $1 quarterly dividend per share, on the ex-dividend date, the price of the stock falls by $1 as this amount now no longer belongs to the company. 

    Thus, the opening price of Stock A on the ex-dividend date is $54 ($55 - $1), assuming there is no other factor affecting the stock's price. The GTC limit order placed by the customer is also adjusted to $49 ($50 - $1).

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  • Yes. Fractional shares pay proportionate dividends i.e., fractional shares positions are eligible to receive dividends.

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  • If a shareholder holds fractional shares of a security as of the security’s record date, the shareholder is eligible to vote their proxy ahead of the upcoming meeting and their experience is identical to that of full share position holders.

    The fractional position voted is added to the aggregate vote total for the security before sending the aggregate vote record to the company’s tabulator. Each tabulator may follow differing policies for counting fractional share positions, and therefore it is possible that a tabulator may follow certain rounding practices or discard fractional amounts in certain circumstances.

    Everyone regardless of how many shares they have (fractional or otherwise) is getting their right to vote. All votes are collectively pooled before being communicated to the company

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  • This will trigger a corporate action. Details of corporate actions will be processed and informed to clients on a case by case basis.

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