Legal Question in Business Law in Florida

Charge for dividend reinvestment.

As an owner of 87 shares of Verizon, I recived (4) shares of Idearc, inc as a spin-off. I optioned to reinvest the dividend in the company to increase the amount of shares owned in the company. When I recieved the statement it said that I earned $1.37 in dividends and was chared $1.34 for reinvesting.

I felt that I had been cheated and was charged an inordinate amount of money.

How can they do this??


Asked on 8/22/07, 7:05 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: Charge for dividend reinvestment.

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

For a charge of $1.34, you are complaining and asking an attorney to respond? Surely you are kidding?

You need to read your agreement which probably sets forth the charge.

Scott R. Jay, Esq.

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Answered on 8/23/07, 1:55 am


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