Support for residual balance carried forward in DRP

I need to be able to enter the residual balance carried forward for the dividend reinvestment plan I participate in. Without the balance I can't get the next dividened reinvestment to register the right number of shares.
Thanks, Luk
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  • Hi Luk,

    Unfortunately we don't have a solution for tracking residual balances at present, so it's a matter of manually editing the DRP quantity from time to time.

    I have updated this topic to an 'idea' and we intend to make some further enhancements in this area and we will update this topic accordingly.
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  • Hi Scott, Any progress on carrying forward the DRP residual balance? Regards Clayton
    • Hi Clayton,

      The main difficulty with DRP balances is that different companies have different approaches to dealing with this and we don't have a source for this information at the moment. For example some companies track a residual balance account whereas other companies simply round up each DRP to the nearest whole share.

      Without knowledge of the company DRP rounding / carry-forward policy it's not possible automatically handle this correctly in all cases.

      Note that currently the DRP calculation should usually be correct (provided that the historical transactions have been recorded correctly) but may occasionally need to be adjusted by one share due to a residual balance. You can of course easily edit this in Sharesight and we certainly recommend that you double check any system created values in Sharesight against your statements and make any adjustments as required.

      We know that DRPs can be difficult to deal with particularly where you are trying to unravel a long history of reinvestments. We have not forgotten about this topic and will certainly look to make further improvements if/when practicable.
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  • I’m frustrated
    Hi
    What about providing an option for people to adjust the DRP calculation/formula for each company? I have some that provide discounts on DRP prices and others that carry residual balances.

    I appreciate that it’s difficult to provide automatically but surely it would be possible to provide a mechanism to set it up once?

    The current DRP calculation is too simple and requires too much manual intervention to track properly. In fact in some cases, it’s almost useless.

    Thanks Julia
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    • This comment was removed on 2016-05-18.
      see the change log
    • Hi Julia,

      We calculate DRP using the DRP price that is published by the company, so this does account for any DRP discount (in fact the automatic DRP function is only available where we have the published DRP price).

      Allowing you to tweak the various inputs into the calculation is an option but also quite complex. Ultimately we'd love to be able to source better quality DRP data or allow you to import directly from the appropriate registry, however until we have a practical and cost effective solution for this a bit of manual intervention is still required.
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  • Any update to this? This is a pretty important function - to accurately track DRP.
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  • This reply was removed on 2016-05-24.
    see the change log
  • Hi All,

    I have updated the status of this topic to planned as we are about to begin work on some improvements to our DRP functionality - stay tuned.
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  • Hi All,

    We have just released a new DRP feature that should go some way toward meeting your requirements - particularly Julia, Luk and Clayton.

    This new DRP feature will not cover all the complexities associated with DRP's, but it will cover most. We will not be handling partial DRP's at this stage.

    Steps to follow:

    1. Visit the Holding settings page for one of your stocks subject to a DRP.
    2. You will see a new 'DRP Settings'
    3. You have the following options available:

    A. Round down - we will always round down the shares allocated as a result of a DRP. Any residual value will be lost - this is the default.

    B. Round to the nearest - we will apply standard rounding rules.

    C. Round up - we will always round up the shares allocated as a result of a DRP.

    And finally, the one that you have all been waiting for:

    D. Round down and track balance - we will always round down the shares allocated as a result of a DRP. However, any residual balance will be carried forward to the next Dividend Reinvestment.

    If your plan aligns with 'Round down and track balance' then the next Dividend Reinvestment will have a 'DRP balance' of $0.00. But each subsequent Dividend Re-investment will take the residual remaining and use that if appropriate.

    We will be adding some help content in the next few days.

    The key thing to remember with this new feature is that it is important to confirm your dividends in order of receipt. If you do, the DRP balance will be correctly applied.

    I would really like to hear feedback on how you find this new feature. It should become really useful I hope moving forward. Just post a response in this forum topic.

    Thanks for all being so patient with us.

    Regards
    Ben

    See below a few of the new fields we now display on the payment form for Holdings with the 'Round down and Track Balance' DRP setting

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  • This reply was created from a merged topic originally titled Add a field for dividend remainder after DRP.

    I have seen a number of new field additions which really helps. One thing I did want to ask is about dividend reinvestment. Usually the dividend amount purchase some shares but then there is always left-over money which gets added to the next dividend for reinvesting. This amount does not seem to be stored somewhere (no field) and when the next dividend is paid the reinvestment calculation does not take the previous left-over amount into account.
    When the dividend is too small to buy any shares then it is not possible to enter the transaction with 0 shares reinvested.
    What is the best approach for this?

    Note: This conversation was created from a reply on: More fields required for distributions.
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