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Energy Transfer Partners, L.P. Message Board

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  • ngaibruce ngaibruce Feb 5, 2013 8:56 PM Flag

    Discount DRIP price

    Thanks dar200. Must be a sleazy broker here as I note s.o. gave you a thumb down! That's what you get for trying to be helpful to other unit holders! LOL!

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    • does fidelity offer drip discounts?

      • 1 Reply to craigshap1950
      • It's not Fidelity's discount. Fidelity participates in the company discount drip.

        In your typical drip at a broker, the broker takes drip cash to the open market and buys as many shares (units) as the drip dollars will buy. No new shares are issued in this typical drip.

        In ETP's discount drip plan Fidelity notifies the drip administrator of how many drip dollars are due to Fidelity clients. ETP issues new units to the drip administrator at the discount price (withholding the drip cash) The drip administrator allocates the drip shares amoung the various participants (in the ratio of drip dollars) and Fidelity re-allocates drip units from the administrator among its clients.

        New units are issued by ETP at the discount price in lieu of distributing cash. Read the 10-K when it is filed. It will show how many drip units were issued in exchange for drip dollars.

39.4199+0.1899(+0.48%)12:51 PMEDT