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Hello,

I sold all shares of my VCN ETF today. It also happens to be the ex-dividend date for that ETF.

This particular ETF was set to drip in my account. My question is - when the dividend comes in, will it come as all cash or will I get stuck with an extra share+cash? I'm with TD if that helps.

Thanks in advance!
 

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logically speaking, if the holding that you sold was big enough to acquire actual DRIP shares & you were set to DRIP, the dividend should come in as shares plus a bit of cash for any leftover.

there is a chance that TD might sell such extra share(s) at zero commission. After the dividend arrives & you get a look at it, be sure to ask them about this if you end up with an unwanted share or 2.

thankx for posting this topic, it's a good warning to folks to wind up & exit their DRIP plans if they are planning to sell an entire holding of anything. I'm not familiar with the rules but i suspect any broker would want Stop Drip requests well ahead of a dividend's X date. Perhaps even 2 weeks before an X date.


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