Jump to content

The dividend blues...


Recommended Posts

What's up with IG and paying dividends?

IG's official position on paying dividends is that it they will be paid within 2 business days of the pay date.

Besides ASX-listed stock, this arguably never occurs. Microsoft dividends recently were more than three weeks past pay date. Royal Dutch Shell, still outstanding, now pushing a week and a half. Suncor, Brookfield Renewable, Enbridge...any of the Canadian corps, they're always weeks late and often incorrect. Incorrect withholding tax, usually. They'll go in, then out, then back in again at an adjusted amount. Fractional refunds for stock splits or rights issues. Never come through. Ever. 

My main beef (besides not getting my money) is the response. I'll always start with calling the IG helpdesk. Normally people are really good. They'll investigate. They are never able to reach the Corporate Actions team while I'm on the phone, but they almost always email me back later in the day and promise a payment date. The only problem is, it never happens. Will be paid tonight. Promise. Then nothing happens. I had the same email three times regarding Microsoft payments over a period of two weeks. Always promising the next day, and then...well, you know. Nothing.

Today, I had an email from someone at IG telling me that I had in fact been paid for a dividend - I believe their words were that it is 'reflected in my account' - the only problem is, it's not. The email was just flat wrong.

So...what do I do? I've escalated to Compliance a few times, particularly for errors with stock splits. But why should I have to? Isn't this what IG do? Stock stuff? Why should I have to keep track of every dividend and then have to follow up multiple times in order to receive a correct dividend...or even just a dividend.

@CharlotteIG

B

  • Sad 1
Link to comment

I have faced the issue with dividends for iShares FTSE250 DIST ETF. Dividend was supposed to be paid on 30th September and IG helpdesk said it would be paid by 1st October. Still no dividend has been paid.  I have sent an email to compliance as well but not sure if that is going to fix anything here. 

  • Sad 1
Link to comment
  • 4 weeks later...
  • 6 months later...
Guest Outback

Wrong amount paid out here, instead of witholding 15% us tax, 37%(odd percentage) was withheld. No answer from corporate desk, other dividends paid on the same day all good.(15% us tax withheld). 

Frustrating to say the least. 

Link to comment
  • 1 month later...
  • 2 weeks later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,083
    • Total Posts
      88,141
    • Total Members
      69,067
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Pakhrin
    Joined 03/10/22 10:28
  • Posts

    • AUD Q4 2022 Fundamental Forecast: Australian Dollar Outlook Sees the Fed Running Harder and Faster than the RBA The Australian Dollar appears vulnerable going into the end of the year with the rate paths of the RBA and the Federal Reserve set to diverge. Will monetary policy drive AUD/USD?   AUD Q4 2022 Technical Forecast: AUD/USD Falling Wedge and Inverse H&S in Focus Despite a strong start in July, the Australian Dollar fell against the US Dollar in August and September, extending the downward trend established in April when prices hit the highest level since June 2021 before selling off.  
    • GBP Q4 2022 Fundamental Forecast: A Whole Heap of Problems for the New Prime Minister The cost of covid, soaring energy prices, rampant inflation, insipid growth and the ongoing Brexit rancour are just some of the problems the new PM must solve quickly.   GBP Q4 2022 Technical Forecast: Still Bearish GBP Downside pressure remains, parity to the US Dollar still in play.  
    • Euro Q4 2022 Fundamental Forecast: Euro Faces a Storm Into Year-End Coming into 3Q’22, the Euro was facing a litany of issues that prevented any sort of significant rebound: slowing economic growth; the Russian invasion of Ukraine; energy inventories; and concerns around a potential fragmentation of European bond markets..   Euro Q4 2022 Technical Forecast: EUR/USD Bearish Continuation Not too long ago 'parity' appeared unlikely. Now, it represents a rather ambitious level. Key levels to consider for a bearish continuation  
×
×
  • Create New...