How Purchases and Sales Are Handled. On the day Eligible Monies are credited to your account, Stifel will use those funds to purchase, as Agent for you, additional shares for each eligible security. If Stifel is an acting Market Maker in the Eligible Security, Stifel will purchase these shares on your behalf, as Principal for you. Stifel will assign the weighted average price per share for all aggregated dividend reinvest shares of each par- ticular security purchased on that day. The exchange on which the purchase was executed may be obtained upon request. We will not reinvest Eligible Monies in a security if you sell the entire position before Eligible Monies are credited to your account. Certain companies offer a discount (typically up to five percent) on the reinvest shares if they are directly reinvested at the company through a company-sponsored dividend reinvestment program. Stifel will partici- xxxx in these programs whenever they are offered through the Deposi- tory Trust Company (DTC). The availability of these programs on any given security may change without any given notice to you. Stifel will attempt to take advantage of these direct dividend reinvest programs on a best efforts basis. The DTC direct dividend reinvestment program may take longer to process than reinvesting on the open market. Although the transactions are effective on the dividend payable date, they will not be posted to your account until up to 15 business days later. If, for any reason, Stifel is not able to make the appropriate selection for the discounted reinvest rate, we will default the security to our dividend reinvestment program using the weighted average price per share for all aggregated dividend reinvest shares of each security purchased on that day. Any updates made to your account as to how you will receive a dividend (cash or re-invest), for the DTC eligible securities, should be completed by record date. If your account is set up to reinvest dividends, and you liquidate your shares after record date but before allocation date, you may still receive the dividend in shares. This reinvestment process may fluctuate from one process to the other without any given notice to you. Information regarding which securities are currently available to participate in the DTC program can be obtained by contacting your Stifel Financial Advisor. There are no commissions or fees for reinvesting Eligible Monies to purchase shares through the DRP. Of course, regular commissions will be charged on the sale of the shar...
How Purchases and Sales Are Handled. On the day Eligible Monies are credited to your account, Stifel will use those funds to purchase, as Agent for you, additional shares for each eligible security. If Stifel is an acting Market Maker in the Eligible Security, Stifel will purchase these shares on your behalf, as Principal for you. Stifel will assign the weighted average price per share for all aggregated dividend reinvest shares of each par- ticular security purchased on that day. The exchange on which the purchase was executed may be obtained upon request. There are no commissions or fees for reinvesting Eligible Monies to purchase shares through the DRP. Of course, regular commissions will be charged on the sale of the shares. We will detail all DRP reinvestment activity on your monthly account activity statement, including purchase price and number of full and fractional shares purchased. You will not receive separate written confirmations for these transactions. We will not reinvest Eligible Monies in a security if you sell the entire position before Eligible Monies are credited to your account. When you sell your entire whole-share position in any Eligible Security, any fractional share will be sold automatically. When your entire position is sold in multiple executions, the fractional portion will be sold at your first execution price. Your trade confirma- tion will reflect whole shares sold through the appropriate exchange or market. Your fractional share will appear on the same confirma- tion as being sold through our Fractional Share Facilitation Account, since fractional shares cannot be sold through regular methods.
How Purchases and Sales Are Handled. On the day Eligible Monies are credited to your account, Stifel will use those funds to purchase, as Agent for you, additional shares for each eligible security. If Stifel is an acting Market Maker in the Eligible Security, Stifel will purchase these shares on your behalf, as Principal for you. Stifel will assign the weighted average price per share for all aggregated dividend reinvest shares of each par- ticular security purchased on that day. The exchange on which the purchase was executed may be obtained upon request. We will not reinvest Eligible Monies in a security if you sell the entire position before Eligible Monies are credited to your account. Certain companies offer a discount (typically up to five percent) on the reinvest shares if they are directly reinvested at the company through a company-sponsored dividend reinvestment program. Stifel will partici- xxxx in these programs whenever they are offered through the Deposi- tory Trust Company (DTC). The availability of these programs on any given security may change without any given notice to you. Stifel will attempt to take advantage of these direct dividend reinvest programs on a best efforts basis. The DTC direct dividend reinvestment program may take longer to process than reinvesting on the open market.
