Shares not DRIPed
Posted Jul 3, 2023, 7:22 PM UTC · edited
210
You have to activate DRIP before the ex dividend date. This is with most brokerages
2
DRIP has been activated for the last ~15 years I've been with E*trade. It's not that. these two stocks have been DRIPing for years now. this is the first time I've missed dividends,
As I said, shares appeared to DRIP in my June statement, but the DRIP shares were not credited to my portfolio.
It might be because of the July 4th "weekend", but other stocks with payable dates of June 30th were DRIPed fine in my Roth account.
E*trade is doing a lot of reorganization because of the merger (look at your June statement). Things are going to fall through the cracks. For example, I normally get dividend alerts for my stocks in the E*trade app and website. Between June 16-Jun30=no alerts.
I just wanted to give other people heads-up.
Check your accounts.
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I have experienced delays too, slow in paying out.
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Did your account recently convert to Morgan Stanley? Should just take a couple business days more. Dividends posted to the old account number than have to transit to the new number
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Update folks:
Looks like we have two statements for Jun 2023 from E*trade: An old-style E*trade statement and a new Morgan Stanley-E*trade statement.
Indeed, two new e-statements were delivered to my inbox this evening on the E*Trade website, both called "Single Account Statement"on the web and file name: MS_ClientStatements_XXXX_202306 when downloaded. One for my Roth account and one for my taxable account. Note, MS=Morgan Stanley
The MS e-statement for my taxable account shows that they did indeed miss the dividend reinvestment for my Jun 30th taxable account stocks SCI and BST.
This is different compared to the old-style E*trade Jun statement posted that shows the dividend DRIP for these two stocks.
This is not a case of the companies not paying on time..... I believe it is a mistake on E*trade side.
CHECK YOUR ACCOUNTS
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I also have an E*trade dividend that finaly processed but says it was deposited into a Morgan Stanley account which I wasn’t even aware I had. Now trying to figure out where this account actually exists because the cash does not show in my e-trade brokerage account.
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Did you call them and ask them?
yes, after looking at my account, the customer service rep said he submitted a "dividend research request" as to why these two dividends didn't get paid
Company may not have paid on time. It happens. Nothing Etrade’s done. As soon as they get paid, you get paid (as long as you were ex-div)
see my update
Did you call them again or is this just what you think?