Effective October 1st, Automatic Data (ADP) completed a spinoff of CDK Global (CDK).
This is a standard spinoff. For general infomarion about entering spinoffs, see FAQ 54: https://www.iclub.com/faq/Home/Article?id=54
The details of the spinoff are:
Date: October 1st
Parent Company: Automatic Data (ADP)
Remaining Basis Percentage: 87.36 (We suggest to use this instead of looking up the Old Security Price Per Share.
Spinoff Security: CDK Global (CDK)
Shares Received: (Number of ADP shares Divided by 3) - Even if the broker does not show fractional shares, they need to be included, especially if the club received any cash for this transaction
Cash Received: This may show up as Cash in lieu or Cash for fractional shares on the broker statement. Enter the cash here, and our accounting system will automatically handle the sale of fractional shares that took place to generate the cash.