Corporate Actions & Fractional Shares

In the event of a stock split you may receive fractional shares of a security depending on the terms and conditions of the split. For example, if you held 10 shares of a security that experienced a 1:7 reverse stock split then the quantity of your position would be adjusted into 1.42857 shares.

If you hold an equity position with fractional shares included and the underlying security pays out a cash dividend you would be eligible to receive a dividend payment for the fractional shares held.

However, for shareholder rights only whole shares would be eligible for proxy voting and the fractional piece of the position will not have any voting ability.