Personal Investments • SCHB 3 for 1 split question

Hi everyone,

I saw that SCHB did a 3 for 1 split recently, will seems relatively innocuous but I saw something interesting in my account. When I reviewed my shares, almost everything was multiplied by 3 as you would expect, but I saw some extra money in my account history, $21.30 which was listed as "cash in lieu". I can understand if the split was in reverse, and I had an odd number of shares, and fractional shares weren't allowed why they would pay me for the half a share in cash, but this should be a simple multiple by 3. I even have some lots that were reinvested from dividends that are fractional and were cleanly multiplied by 3 (such as 15.9981 becoming 47.9943). But for one lot I saw that instead of multiplying cleanly by 3; 4,942 x 3 = 14826 they instead gave me 14825.0532 which seems to explain by I got some money back. Buy why didn't they just give me the 14826? Luckily this is in my IRA account so no tax implications but would have been annoying if it was.

Any thoughts?

Statistics: Posted by jrs2020 — Tue Oct 15, 2024 8:26 pm — Replies 1 — Views 232

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