Corporate actions are announced through official shareholder information notices. The actions include stock buybacks, stock splits, option numbers, special privileges, etc., and as a shareholder, you are entitled to participate.
Corporate action participation checklist
Please go to myQuestrade, click on myAccounts, then scroll down to request a corporate action. You will require:
- Your client account number
- The CUSIP number*
- The security name
- The quantity you want to exercise
- The corporate action expiry date*
- Details of the corporate action (the precise nature of the action – a tender offer, a merger, exchange of units, over-subscription privilege, etc.)
- Corporate actions must be submitted at least 72 hours (3 business days) before the CDS (Canadian Depository for Securities) deadline. Weekend days are not included. For example, a request submitted at noon on Friday would qualify for corporate actions with a deadline of noon (or later) on Wednesday.
- Requests submitted less than 72 hours prior to deadline will be processed on a best efforts basis.
- Clients will receive an email notification from Questrade acknowledging receipt of the request to initiate the corporate action. If there are any discrepancies in the order, a Questrade representative will contact the client to discuss the details.
- Clients with multiple accounts must submit a separate request per account.
- Information from public websites cannot be authenticated. Ensure you quote directly from official shareholder information, available through the shareholder communications, when completing the corporate action participation checklist.
