Question 1: Is it too late to change my dividend re-investment plan instruction for CommBank? I understand that when the dividend of $2.00 was announced in February, the shares were trading near $90.00, but they have since tumbled and are now around $68.00. Does that mean that the number of shares I get will be based on a price of $90.00?
Answer (by Paul Rickard): Yes, it is too late to change. DRP elections (or changes regarding participation) closed on Friday 21 February.
The better news is that the DRP share price will be based on the weighted average price that CBA shares trade over the 4-week period from Monday 24 February through to Friday 20 March. Based on current trading, this means that the price is more likely to be around $75, rather than $90. The price will be announced early in the week of 23 March, with the shares to be issued on Tuesday 31 March.