Just to let any other Davy Select customers know: it now appears that DS charge a transaction fee on scrip dividend transactions. I received a dividend off €26.60 (net) last month and I had signed up for scrip dividends. Before purchasing shares with the dividend, DS took a fee of €4 and used the balance to purchase shares. This means the effective share cost was more than the share price has ever been for this share.
I've asked for further details as to when this fee is applied, how it is calculated and when it was introduced. Will post when I hear more but is isn't listed on their statement of charges and fees [yet]. If it's a flat fee and you're receiving quarterly dividends, that's another €16 expense (per shareholding) on top of the €25 a quarter management fee.
I've asked for further details as to when this fee is applied, how it is calculated and when it was introduced. Will post when I hear more but is isn't listed on their statement of charges and fees [yet]. If it's a flat fee and you're receiving quarterly dividends, that's another €16 expense (per shareholding) on top of the €25 a quarter management fee.