Jump to content

40% lower dividend payouts on the same shares


Guest hariboid

Recommended Posts

Guest hariboid

Anyone else having this problem with some (not all) US shares? 

This quarter my dividend payouts involved a 11 or 12 line calculation for each share and a drastically reduced payout (on stocks I haven't sold, and which have not reduced their payout)

I've signed a W-8BEN form so it isn't that. 

I'm not getting any useful answers from IG helpdesk and, of course, a total blank from 'Corporate Actions' - whatever that means.

 

Link to comment
  • 3 weeks later...
Guest Angela11
On 13/03/2019 at 10:40, hariboid said:

Anyone else having this problem with some (not all) US shares? 

This quarter my dividend payouts involved a 11 or 12 line calculation for each share and a drastically reduced payout (on stocks I haven't sold, and which have not reduced their payout)

I've signed a W-8BEN form so it isn't that. 

I'm not getting any useful answers from IG helpdesk and, of course, a total blank from 'Corporate Actions' - whatever that means.

 

 

Link to comment
Guest hariboid

@Angela11 @Caseynotes That's just the thing, James did not even remotely answer this question to any meaningful conclusion. I was passed back to the IG helpdesk who submitted an apology and then took five days to reply to my questions:

What is my actual - final - payout for each stock?
When is this insanely stupid 'project' going to end?
Who has oversight of this at management level?
 
The reply was:
 
Thanks for your emails, and apologies for the delay in response.
We have received some feedback from our brokers regarding the multiple dividends and contras on the account.

Our custodian uses a vendor for the annual reclassification of process, which captures all the relevant data for holdings of securities "in scope" for reclassification. The vendor provides us with data which they action from their side. While some entities make public their reclassification information, many do not.

If you are searching publicly for reclassification data, you may want to seek out the Form 8937 of the issuer in question. Sometimes these are public and will contain information related to reclassification.


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,
Matt Stevens
Trading Services
 
 
Lame, inadequate and completely unhelpful.

 

Link to comment

Hi @hariboid, it seems the problem for IG is that they are the third link in the chain. The company initiated the reclassification, that was then handed on Citi who then handed it on to IG who then passed it on to you. 

I understand how that has caused problems for you resulting in a ridiculous chain of calculations on your statement that was impossible to follow.  IG did say they were investigating ways to abbreviate the process, hopefully that will be sooner rather than later.

As in my reply to Angela the company must have issued a statement explaining the reclassification which would be worth looking into for clarity. 

Link to comment
Guest hariboid

Hi @Caseynotes 

Sure, but that's entirely lame. 

1. If divi's need to be reclassified, do it in a way which isn't dumb and doesn't make clients lives impossible. 

Answer from IG - no answer

2. Investigating ways to abbreviate.

When will those ways be implemented? No answer.

How about an Interim solution? No answer

3. The reclassification - with statement or otherwise - does not automatically constitute an explanation. And the implementation, which is everything, is staggeringly bad. It doesn't matter if they are the third link or the seventh. Either deliver a reasonable service for dividends from some of the biggest companies in the world, or don't offer those shares to clients. 

I'm tired of excuses, justifications and flippant responses. The bottom line: IG is delivering a pitifully poor service and doing absolutely nothing to remedy it or help clients stuck with the mess.  

Link to comment

@hariboid,  I agree but I keep wondering why this doesn't seem to have happened before, or at least I don't remember anyone coming forward on the forum before with a similar experience in the 3 years since I've been on here. I wonder if there might have been a breakdown somewhere, you said this was the first time this had happened? 

Link to comment
Guest hariboid

@Caseynotes, it started about 5 months ago - I got some elaborate and difficult to understand calculations for an MLP holding I had - EPD. But it's crept up and into US REITS just this last quarter iirc. Before that, dividends just came in as normal. 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • Gold Elliott Wave Analysis Function - Counter-Trend Mode - Corrective Structure - Likely Double Zigzag Position -Wave 4 Direction - Wave 4 is still in play Details - Gold count adjusted to fit the sideways structure emerging for wave 4. The structure still supports further rallies. Gold has remained in a sideways range since the decline on April 12th, 2024. Despite this consolidation, the metal is poised for more gains and potentially a fresh all-time high. Gold is in a long-term bullish trend, with no significant bearish correction expected until the impulse cycle from September 2023 completes.   Daily Chart Analysis: Gold prices have been largely bullish, with a cycle degree impulse wave III emerging from 1810.5 in September 2023. Currently, the price is in a minor degree wave 4, which initially appeared to be a zigzag structure. However, the sustained sideways price action suggests this is a triangle structure for wave 4. Before the eventual breakout to the upside, Gold might make one more leg lower within the range. The goal now is wave 5.   H4 Chart Analysis: The H4 chart shows the sub-waves of the emerging triangle structure, which is currently on the fourth leg - wave d (circled). Wave e (circled) should follow, but it should stay above 2286 to avoid invalidating the triangle structure. Thus, the invalidation level for this setup is 2286. Provided the price remains above that level, the potential for more upside is far greater. Wave 5 should reach at least the 2500 key psychological level.   Summary: Gold has been in a sideways range since the decline on April 12th, 2024, but is expected to make further gains and potentially reach a new all-time high. The long-term trend is bullish, with no significant bearish correction expected until the impulse cycle from September 2023 ends. On the daily chart, Gold is in a cycle degree impulse wave III from 1810.5, with the current minor degree wave 4 forming a triangle structure.   On the H4 chart, wave d (circled) of the triangle is in progress, with wave e (circled) expected next. The triangle structure remains valid as long as the price stays above 2286. If this level holds, the potential for more upside increases, with wave 5 likely to reach at least the 2500 level. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!  
    • AVY Elliott Wave Analysis Trading Lounge Daily Chart, Avery Dennison Corp., (AVY) Daily Chart AVY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 5.   DIRECTION: Upside in wave {iii}. DETAILS: Looking for upside into wave 5, equality of 5 vs. 3 which in this case will stand as invalidation level, as wave 3 is currently shorter than 1, stands at 250$.     AVY Elliott Wave Analysis Trading Lounge 4Hr Chart, Avery Dennison Corp., (AVY) 4Hr Chart AVY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (ii) of {iii}.   DIRECTION: Upside {iii}. DETAILS: Looking for minute wave {iii} to start unfolding, otherwise we could be in either a top in place, or else we could be forming an ending diagonal in wave 5.   Welcome to our latest Elliott Wave analysis for Avery Dennison Corp. (AVY). This analysis provides an in-depth look at AVY'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 AVY's market behavior.   * AVY Elliott Wave Technical Analysis – Daily Chart* In our Elliott Wave analysis of Avery Dennison Corp. (AVY), we observe an impulsive trend pattern characterized by a motive structure. AVY is currently positioned in wave {iii} of 5, indicating a continuation higher within this wave sequence. The target level for the upside movement into wave 5 is the equality of wave 5 vs. wave 3, which stands at the $250 level. This target also acts as the invalidation level, as wave 3 is currently shorter than wave 1. Traders should monitor this level closely as it provides a critical threshold for potential wave completion and validation of the current wave structure.   * AVY Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, AVY continues to follow an impulsive trend mode within a motive structure, specifically in wave (ii) of {iii}. The current analysis suggests an anticipated unfolding of minute wave {iii}, which would indicate further upside potential. However, if this wave does not start unfolding as expected, it could suggest that a top might already be in place, or alternatively, we could be forming an ending diagonal in wave 5.   This potential scenario should be watched for confirmation or invalidation to adapt trading strategies accordingly.   Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
    • Asian shares are ending the week lower after recent rallies. Yesterday on Wall Street the Dow made gains while Nvidia and other tech names came under short-term pressure. The dollar continues to strengthen, pushing the Japanese yen close to levels last seen in April, which then provoked a currency intervention. European markets are expected to open flat, while US futures show slight gains. The MSCI Asia-Pacific index fell 0.6%, led by a pullback in technology stocks. Japan's inflation slowed in May, complicating the outlook for interest rate hikes. Currency markets saw the euro, sterling, and Swiss franc fall against the US dollar. Today is dominated by flash PMIs from around the globe, including Germany, the UK and the US. 
×
×
  • Create New...
us