TD Direct Investing DRIP — how long does it take for dividends to be reinvested?
I recently set up DRIP on my TD Direct Investing account and I’m trying to understand how long the reinvestment process normally takes.
Some of my dividends have already been reinvested through DRIP, but I have another dividend from VFV (Vanguard S&P 500 Index ETF) that has been sitting in my account as cash for 2 business days without being reinvested.
For those of you using TD Direct Investing:
* How long does your DRIP usually take after the dividend is credited?
* Is it normal for the dividend to sit as cash for several business days?
* Specifically, how long have you seen **VFV** take to reinvest?
* Does TD handle some ETFs differently (e.g. market DRIP vs. treasury DRIP)?
I was told by TD that VFV may be handled differently from some other ETFs, so I’m curious about other people’s actual experience.
Thanks!