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DRP is dividend re invest into their share but not at current price. For example 7.7 , dividend is 385 for 1000 unit will give 50 (385/7.7)unit to you but this is odd unit because max unit can trade is 100 unit . Therefore 50 unit cannot be trade. If you bought 2000 unit ,give 100 unit. Bear in mind , if ex-date price above 8.1 will consider discount price if drp price is 7.7. You can make decision whether cash or drp before payment date.
Yes Alex, after exdate will adjust, if may bank give DRIP with at 7.4 or 7.5. It consider discount. If you are Long term investor , normally will accept DRIP plan.
