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Dividend payments from online brokers     

moneyplus - 04 Jun 2006 15:55

I have been away for 2 weeks and returned to find Hoodless B have credited my div from PRTY shares on the correct date but Squaregain after 2 weeks plus are still hanging on to the money as it was paid out on 19th May-I don't think much of this. has anyone else had problems? HB has ad some criticism lately but in this case is due some credit.

partridge - 04 Jun 2006 19:11 - 2 of 6

I queried delays in dividend credits with Barclays Stockbrokers and was told that it takes time to distribute the lump they receive between all the different holders. Don't understand why this takes 2 or 3 days, surely should be 2 or 3 minutes in today's electronic age. Have to say, however, that generally I find them very good.

Kayak - 04 Jun 2006 20:51 - 3 of 6

Complain, moneyplus, it shouldn't happen. Mind you are you sure that the dividend isn't in respect of shares you had recently bought ex-dividend?

moneyplus - 05 Jun 2006 13:15 - 4 of 6

no I bought well in time-just another way to make money out of p investors!!

moneyplus - 05 Jun 2006 19:05 - 5 of 6

squaregain inform me that all dividends paid in dollars have to clear and be converted but I should be paid by the end of the week! funny that HB can pay out near May 19th without needing to hang on to the money.

captainmerton - 05 Jun 2006 22:23 - 6 of 6

Out of interest I waited about 3 weeks for a dividend payment in dollars from HB. On another note, anyone know of any brokers that allow you to instantly reinvest dividends paid through nominee accounts? I assume the brokers must get huge sums as a one off dividend payment on all shares held in the nominee account. i know Halifax let you through the sharebuilder account but I dont want to drip feed my share purchases. Any ideas?
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