If I own 15 shares of a stock that makes a cash dividend payment of 0.635/share for a total dividend payment of $9.525, who determines how the half-penny is handled?
I couldn't find any documentation regarding this situation
- For my brokerage account;
- From the issuing company (the issuing company usually states how fractional shares will be handled in a split/spinoff);
- From FINRA (http://www.finra.org); and
- I didn't even try to find an SEC rule.