First Dividend Payment

by Mr. Cheap

Woot! As I checked my E*Trade account this morning, I see that I’m up a super-sweet $72.60 as a dividend payment from Rothmans (I feel like I should go buy some smokes for impressionable teenagers with the cash :-) ). I was wondering how it would work, since I hadn’t seen any of the cash (the dividend was supposedly paid on the 15th, I guess it took them a couple of business days to get it into E*Trade).

This certainly cushions the dip that my stocks have taken recently (according to share prices, I’m down $439.01). Factoring in the dividend, that’s a cool -$366.41 (but I’m hoping to make it up in volume ;-).

As I asked previously, I have no idea how it would work from a tax perspective if I withdrew the $72.60 from my account (currently it immediately went to pay down my margin debt). I think I’ll leave it in the account (pay down the debt), just to keep things simple for now…

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