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Non-Tech : CSFB Direct(DIR)

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To: Susan G who wrote (363)3/25/2000 8:33:00 PM
From: Pices  Read Replies (2) of 406
 
Susan - Don't you think that withholding the split for one week because they did not receive a piece of paper is a little much? I wrote a note to them asking about this and this was their answer...

"When a company undergoes a stock split, the stock price is adjusted in your account on the ex-dividend date. However, your account will not be adjusted to reflect the additional shares until after we receive the physical shares from the transfer agent. If you owned stock up until the ex-dividend date, then you are entitled to the additional shares of the stock. If you sold stock, it must have been sold on or after the ex-dividend date in order to receive the split shares.

For your particular issue, CSCO, you will be able to view the adjustment reflecting your additional shares online in your Positions screen and Transaction History on 03/29/2000."

I thought everything was done electronically these days anyway. But to withold the split because they don't have the physical piece of paper seems petty. My Fidelity account shows the split just fine.

Pices
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