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Missing dividend


tjw

Question

Hi,

 

I have a holding (an ETF) that paid a dividend on 22nd December.  It's now 29th December and the payment still hasn't been posted to my IG share trading account.  Is there a reason it is taking so long?  or is there a problem?

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Hi - when a dividend is paid it will go to our prime broker first (for example Citi) who will then send the funds over via a BATS transfer. This usually take a couple of working days, however because of the recent holiday season it will take longer. As soon as we've received the funds you should see it posted on your IG account as a cash value, and you'll be notified via the overnight statement. I believe these funds should be with you very shortly. 

 

I hope this clarifies things and apologies for the delay. 

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Hi,

 

It's now the 4th January and this still hasn't reached my account. I know it was paid out by Van Eck on 22nd December. 

 

It's been nearly 2 weeks now.  I'm fairly new to IG but I'm thinking it doesn't normally take this long?

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Hi - No problem, thank you for responding, I'm not sure whether you received my PM last Thursday.

 

The etf is EGPT, the administrator is Van Eck.  I've held since May 2017 so am fully entitled to the year end dividend.

 

The dividend is:

Year   Ex-Date    Record-Date    Payable-Date    Dividend Income*
2017  12/18/2017    12/19/2017    12/22/2017    $0.2530

 

It's the 8th January and the payment still hasn't shown up.

 

With other brokers I've always received dividend payments pretty much straight away. Do you still think this is slow processing (by IG) or is there a problem?

 

Thank you...

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Guest G B Pipalia

GKP released dividend on 2 July but was not credited in to my IG account.Contacted helpdesk as well as corporate action team and got reply after two days that GKP did not give any dividend for past 18 months. So much awareness on part of IG. I had written that I got same dividend from X.O. (Jarvis group).

Copy of RNS was provided.Chatted three times without any resolution. Is there any hope ?

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