Scatablog

The Aeration Zone: A liberal breath of fresh air

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Thursday, December 29, 2005

Learn Something New Everyday

I just had a very strange telephone call with my stock broker. Some weeks ago, I liquidated all the shares I held in a particular stock. When I looked at my statement, however, there were still some shares of this company listed. As I looked further, I noticed that the dividend paid at about the time I had sold the shares was reinvested in the stock, explaining why more shares had appeared in my account. This dividend reinvestment, however, was a violation of my explicit instructions against reinvestment. My broker told me that the company had simply pre-emptorially ordered that all dividends be re-invested. I never knew they could do that in mid-stream without your permission. It's rather annoying.

I guess they've learned something from our President.

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