Jump to content

Tesco Dividend


Recommended Posts

There is probably a straightforward answer to this, but why has the Tesco Special Dividend been converted (at the $/£ FX rate) when the dividend and my account are in Sterling?

01/03/21
DEPO
Tesco PLC DIVIDEND 115@0.5093 Converted at 0.71391184
  • Like 1
Link to comment
Guest Martin

The conversion is to account for the reverse stock split. However, it is still innacurate. Tesco’s reverse split was 19 for 15 -- 15/19 = 0.78947368. 19 x 0.71391184 = 13.56, in other words 19 shares received money for 13.56 not 15. I would really like to know the answer to that. Say you have 115 shares, you now probably have 90.7 shares, that multiplied by 0.5093 (£50.93 a share). You should've received £46.19 dividend and you probably received £41.81, instead. 

Link to comment
3 hours ago, Cobalt said:

There is probably a straightforward answer to this, but why has the Tesco Special Dividend been converted (at the $/£ FX rate) when the dividend and my account are in Sterling?

01/03/21
DEPO
Tesco PLC DIVIDEND 115@0.5093 Converted at 0.71391184

I had the same issue. This is an error. Trying to contact IG support with no answer

 

Link to comment
Guest Aggrieved

Same here. I was Expecting the dividend in full yet it seems that IG have helped themselves to 29% of our money. Moving my account is starting to look appealing. 

Link to comment

I have been paid dividend based on the amount of new shares. Surely this is incorrect, I thought that dividend was supposed to be based on the amount of shares pre-consolidation? 

And even then, the figures are around £200 off. (Assuming due to conversion rate others have mentioned above)

  • Like 1
Link to comment

I had the same thing.

This is clearly wrong and needs correcting asap as the special div was due to be paid on 26 Feb and is already late.

Also, I've had an ongoing question with the IG Corporate action team since I received the the original email on 12 Feb 21. The email stated as follows:-

How will it work?

 Let’s say you have 190 shares priced at £2.50 per share. We’ll close your original position and open a new one to reflect the 15-for-19 consolidation. This means that you’ll now have 150 shares, and the share price will have adjusted to £3.16 per share. The total monetary value of your position remains the same.

This is also clearly wrong. The share price was not and was never going to be adjusted under the terms of the consolidation, with the change of position value being made up by the special dividend.

All I required was for the IG CA team to confirm that the wording of the email above was incorrect. So far it has take over 2 weeks to get the most vague response. that has not addressed my specific point.

Link to comment
Guest I have same problem no IG
15 hours ago, albertoganan said:

I had the same issue. This is an error. Trying to contact IG support with no answer

 

 

Link to comment
Received the following email from IG
 
-------

Dear Mr. Gupta,

Thanks for your email.
The dividend has been paid out in USD instead of GBP and we would like to apologize for any inconvenience this might have caused.

This will be rectified in 1-2 working days and the right amount will be posted into your account.

If you have any further queries, please do not hesitate to contact us. Alternatively, we've recently launched our new Help & Support site which gives you answers from our huge knowledge-base, online community, and education hub.

Regards,

Jakub Sikora
Trading Services
Link to comment
On 01/03/2021 at 15:16, Cobalt said:

There is probably a straightforward answer to this, but why has the Tesco Special Dividend been converted (at the $/£ FX rate) when the dividend and my account are in Sterling?

01/03/21
DEPO
Tesco PLC DIVIDEND 115@0.5093 Converted at 0.71391184

 

On 01/03/2021 at 16:22, Kartikeya said:

I have the same question. I was expecting to get paid in GBP and the dividend was issued in GBP itself. 

"Tesco PLC DIVIDEND 2000@0.5093 Converted at 0.71391184"

@CharlotteIG

 

On 02/03/2021 at 09:02, Cobalt said:

@Qwerty123 @Stu73

For me the amount of shares that the dividend is paid for is the pre consolidated amount, so that at least is correct.

@CharlotteIG what is going on with this dividend?

Hey all, 

Tesco special dividend is actually in GBP , but unfortunately there was an error that payed it in USD instead of GBP.. This is now resolved, we have reversed all USD payment and paid it in GBP again but sorry for the inconvenience and any confusion caused. 
All the best 
Link to comment

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
  • image.png

  • Posts

    • KO Elliott Wave Analysis Trading Lounge The Coca-Cola Company (KO): Daily Chart Mode: Impulsive Structure: Motive Position: Wave 5 Direction: Top in wave 5 Details: Looking for a clear five-wave move into Intermediate wave (1) to be either completed or near completion as we have reached the medium level at $65.   The Coca-Cola Company (KO): 4H Chart Mode: Impulsive Structure: Motive Position: Wave 5 Direction: Top in wave 5 Details: Looking for either a top in wave 5 as we can count a five-wave move from the bottom in the triangle in wave 4, or else we just completed wave {i} of 5.   Welcome to our latest Elliott Wave analysis for The Coca-Cola Company (KO) as of July 23, 2024. This analysis provides an in-depth look at KO's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on KO's market behavior. KO Elliott Wave Technical Analysis – Daily Chart The daily chart indicates a clear five-wave move into Intermediate wave (1), which is either completed or near completion as the price has reached the medium level around $65. Traders should watch for signs of a potential top in wave 5, as this could indicate the end of the current bullish phase and the beginning of a corrective phase. KO Elliott Wave Technical Analysis – 4H Chart The 4-hour chart shows that a five-wave move can be counted from the bottom of the triangle in wave 4, suggesting that wave 5 might be completed or wave {i} of 5 is completed. This indicates that traders should be cautious of a potential top formation and be prepared for a possible corrective move.   Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
    • Semiconductor shares rebounded in Asia overnight but weaker commodity prices cast a gloom over the session. Disappointment over the lack of any major growth initiatives at China's recent Plenum have left indices there rudderless, while a strengthening yen has hobbled the Nikkei 225's rebound. Attention now turns to earnings from Tesla and Alphabet, following on from Netflix last week. These two member of the 'Magnificent 7' will set the tone for the rest of the week. Kamala Harris has achieved enough support to be the Democrat nominee, while raising a record $81 million in donations in 24 hours. Markets continue to await fresh polling on a contest between Donald Trump and the incumbent vice-president. 
    • KOSPI Composite Day Chart Analysis Elliott Wave Analysis by Trading Lounge Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Next Higher Degrees Direction: Gray Wave 3 Wave Cancel Invalid Level: 2551.59 The KOSPI Composite day chart analysis employs Elliott Wave Theory to provide a detailed examination of market movements. The primary function of the current movement is a counter trend, indicating a move against the primary trend. Mode and Structure: The current mode is corrective, indicating a retracement or consolidation. The structure analyzed is Gray Wave 2, a corrective wave within the larger Elliott Wave framework. Current Position: The market is currently within Orange Wave 3, the third wave of a higher-degree sequence in the orange wave category. According to Elliott Wave Theory, Wave 3 often shows strong, impulsive characteristics. Next Higher Degrees: The direction for the next higher degrees is towards Gray Wave 3. After completing the corrective phase of Gray Wave 2, the market is expected to transition into Gray Wave 3, which is anticipated to be an impulsive wave, resuming the primary trend direction. Details: Following Gray Wave 1, the market is now in the corrective phase of Gray Wave 2 of 3. This phase is crucial as it sets up the market for the next significant move, Gray Wave 3 of 3. Gray Wave 2 is a preparatory phase leading to the next impulsive phase. Wave Cancel Invalid Level: The critical wave cancel invalid level is set at 2551.59. If the market falls below this threshold, the current wave analysis would be invalidated, requiring a reevaluation of the wave count. Summary: The KOSPI Composite day chart indicates that the market is in a corrective phase, identified as Gray Wave 2 within Orange Wave 3. The next expected move is a transition into Gray Wave 3, which is anticipated to resume the primary trend. The wave cancel invalid level is set at 2551.59, serving as a key point for validating or invalidating the current wave structure.   KOSPI Composite Weekly Chart Analysis Elliott Wave Analysis by Trading Lounge Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Next Lower Degrees Direction: Orange Wave 4 Wave Cancel Invalid Level: 2551.59 The KOSPI Composite weekly chart analysis utilizes Elliott Wave Theory to understand market behavior. The function of the current movement is identified as a trend, indicating alignment with the primary direction of the established trend. Mode and Structure: The current mode is impulsive, suggesting strong, directional market moves. The structure under analysis is Orange Wave 3, a significant and typically powerful wave within the broader Elliott Wave sequence. Current Position: The market is currently within Navy Blue Wave 3, a major phase in the market cycle characterized by substantial moves and increased trading activity. Next Lower Degrees: The direction for the next lower degrees is towards Orange Wave 4. After completing the impulsive phase of Orange Wave 3, the market is expected to enter a corrective phase, identified as Orange Wave 4, which will likely retrace some gains made during Orange Wave 3. Details: Orange Wave 2 appears to be completed, setting the stage for the current phase, Orange Wave 3 of 3. This phase is crucial as it represents a strong, impulsive move within the broader trend, often marked by significant price movements and increased volatility. Wave Cancel Invalid Level: The critical wave cancel invalid level is set at 2551.59. If the market falls below this threshold, the current wave analysis would be invalidated, necessitating a reevaluation of the wave count. Summary: The KOSPI Composite weekly chart analysis indicates that the market is in an impulsive phase, identified as Orange Wave 3 within Navy Blue Wave 3. The next expected move is a transition into Orange Wave 4, which will be a corrective phase. The wave cancel invalid level is set at 2551.59, serving as a key point for validating or invalidating the current wave structure.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us