Re: stock splits and cash in lieu
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Posted by Mark on March 15, 1999 at 07:29:00:
In Reply to: stock splits and cash in lieu posted by Neil McWilliams on March 14, 1999 at 18:51:41:
: Schwab offers automatic reinvestment of dividends but
: when a stock splits, they do will only apply the split
: to whole shares, providing cash-in-lieu for left over
: partial shares. Needless to say, I need to correct for
: the number of shares or Fund Manager has me owning too
: many. Is the cash-in-lieu a sale of partial shares or
: a dividend? I also have to relearn what to do whenever
: there is a spin-off. This might be an area, with examples
: that you would build into your help section in FM 4.
: Thanks. Neil,
You can record your split, and then you would
want to record a redemption for the appropriate
number of shares. This is not a distribution,
as you are lowering the number of shares you own.
Thanks for the feedback on spin-offs. You can
read about them on our web site at: http://www.fundmanagersoftware.com/spin.html Thanks,
Mark
--
Mark Beiley
Fund Manager for Windows 3.1x/95/98/NT
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