Is there a way to edit/delete a dividend transactions in a live book? A cash dividend appears in place of a spin off. I want to eliminate the cash dividend but it does not show up in the edit function.
edit: Deleted!
Marco pointed out to me that the answer is even easier: Add the equity transaction of buying the shares that day.
You receive the cash-equivalent dividend, and you should just be able to use that to buy the actual shares issued in a spin-off situation.
Spinoffs in P123 are only handled using the S&P computed cash equivalent dividend. This is necessary because a lot of times spinoffs have elective components. Shareholders can elect to receive cash, stock, both etc.
In order for users to be able to correctly, and timely synch a P123 model with the live brokerage I think the following is needed:
1- a way to edit the cash equivalent dividend (to account for market movement of the spinoff shares)
2- an email should be generated when a live model receives a cash equivalent dividend
It would be great if P123 could do this automatically without me having to do it manually. I have a couple of ports focussed on dividend paying stocks and this comes up a lot for me.
David, do what automatically ? Dividend paying stocks are not a problem. Thanks
Well, I was mistaken. The tool IS automatically adding the amounts. I had not checked my transactions for awhile and was only seeing a 0 amount for a DIV distribution. I see now that the 0 amounts are for future dates. I had not checked after that date to see if it was populated. It is. Good. Only recently had I started using ports that had a lot of DIV activity so was not paying attention. It is doing what I wanted it to do.
Marco, a way to edit the cash equivalent dividend should do the trick.
Without the ability of editing the dividend that amount will affect your “Toal Return”, and your " Total Market Value ". You can make some adjustments to correct both the “Total Return” and “Total Market Value”, but the process will cause errors in your trading statistics. The ability to edit the cash equivalent dividend would solve these issues.