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Prospect Capital Corporation Message Board

  • palovesr palovesr May 30, 2014 2:21 PM Flag

    Dividend Reinvestment at Merrill Lynch

    Howdy -- Anyone out there have PSEC in a retirement acct with M/L. Div was posted to
    my IRA and marked for Reinvestment both on 22 May. AS OF 2:15 30 MAY reinvestment
    in shares has not been made. M/L says PSEC has to give them the shares and also the
    transfer agent has something to do with shares not being bought and posted to my acct.
    I contacted PSEC and they said they paid the dividend and it was out of their hands. M/L
    also said they have up to 15 days to get the shares and depending on how long it takes
    will give a 1-5 percent discount of price of shares bought. I never heard of such bs and
    have been in stocks over 30 years. Anyone have any idea of what's happening. Thanks
    for any help you can provide.

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