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A corporate action is a change initiated by a company that affects shareholders by adjusting the organization's structure of debt or equity.
Examples of corporate actions can be stock-splits, consolidations, mergers and many more!
How do these work in Wealthsimple Trade?
Our back-office will process any mandatory corporate actions on your shareholdings so no action is required on your end in these cases!
Corporate actions can take between 3-6 business days to fully process as we do need to wait for our clearing brokers to provide us with the new shares. Because of this, you may notice that your shares may appear as ‘inactive’ before the new shares are added to your account!
At the moment, Wealthsimple Trade does not support alerts or notifications regarding corporate actions so we recommend checking in with the investor relations pages and public news sources for news or information regarding your holdings.
Any fractional shares that are generated from corporate actions will be sold off for the cash equivalent as the platform cannot currently support them.