European Residential REIT T.ERE.UN

RE:RE:RE:RE:RE:Drip

[financebuff101]

I am with RBC DI.  My drip shares were recorded on Sept 27th, but the entry reads

"EUROPEAN RESIDENTIAL REIT TRUST UNIT DIST ON xxx SHS REC 08/31/22 PAY 09/15/22"

A few days ago I asked RBC DI what was going on.  They had no clear explanation for the delay - see below.

Thank you for the opportunity to respond to your dividend inquiry. Some stocks and preferred shares are eligible for a discount on the dividend reinvestment price. ERE.UN-T shares are one of those securities that clients receive a 5% bonus off the reinvestment price.

On the payable date, the cash deposit will appear and be removed the following day. We must wait until we receive the discount price before we post the reinvested share(s) to your account. Generally this takes about two weeks. We then back date the transaction to the payable date, in this case September 15th.

To see this transaction on or around 09/30/2022, click on the 'Activity History' link found under the 'My Portfolio' menu.

To view the list of Dividend Reinvestment Plan (DRIP) eligible securities, visit https://www.rbcdirectinvesting.com/drip-list.html.

Thank you for choosing RBC Direct Investing.