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American Water Works Company, Inc. Message Board

  • stormfront2020 stormfront2020 Jun 4, 2013 8:58 AM Flag

    Dividend Reinvestment Question

    Yesterday morning AWK was highlighted (pending update) at my Fidelity account.
    I knew this meant a dividend was about to be paid.

    I saw the price was 39.94 (Fridays closing price)
    AWK had traded as high as 43 in the previous month, & while none of like to see our shares prices drop, I thought as long as I'm about to purchase more shares, why not get them at a lower price.

    My question is the price the dividend was reinvested at.
    According to both Yahoo & Marketwatch, the open-high-low&close on June 3rd was as follows..

    40.06 40.77 39.87 40.31

    According to Fidelity, I paid 40.981 per share
    If the high of the day was 40.77 how is it possible that I paid 40.98 ?

    Could it be related to the fact that it's a fractional share amount ?

    Thanks in advance!

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