Oct. 2 at 9:28 PM
$OXLC $CLM $CRF If you participate in Cornerstone’s dividend reinvestment plan, you receive your drip shares at NAV through a Transfer Agent, and this normally takes 2 to 5 business days after the published payment date. Occasionally, the drip shares are processed in 1 or 2 days, like CRF was this month, but this is the exception, not the rule, so we are on track for a normal timeframe for CLM’s drip shares. Also, these are new shares, issued by the Fund, and do not require any cash. Only about 34% of the distributions are in the NAV drip plan, the rest take cash or drip through their broker’s plan. The same terms apply to the OX, but it drips at a 5% discount, not at NAV and about 14% participate in the OX's plan. Hope this helps.
