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Barclays dividend reversal


1999Norman

Question

I had a long position on Barclays and dividend was recently  credited to my position  on ex.div day,and stock price adjusted down to balance out.My position closed on Barclays  before recent dividend reversal announced ,so when dividend adjustment was  made funds were debited but price for Barclays shares could not be adjusted up to balance..... i.e . reversal of what happened on ex.div day did not happen .As a result my position is negative and i am  losing out.will I.G. compensate this scenario....anyone else in same position.I cannot get through  to I.G. on phone  and had no e.mail reply to question yet other than generic response .

N.H. 

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1 hour ago, 1999Norman said:

I had a long position on Barclays and dividend was recently  credited to my position  on ex.div day,and stock price adjusted down to balance out.My position closed on Barclays  before recent dividend reversal announced ,so when dividend adjustment was  made funds were debited but price for Barclays shares could not be adjusted up to balance..... i.e . reversal of what happened on ex.div day did not happen .As a result my position is negative and i am  losing out.will I.G. compensate this scenario....anyone else in same position.I cannot get through  to I.G. on phone  and had no e.mail reply to question yet other than generic response .

N.H. 

Thanks for your post. 

If you had a long position on Barclays that means you would have received funds back in February.

These funds are no longer being given to clients, so we have taken back that adjustment, The price at the moment is the pricing on the exchange. We don't have control over this price. When we adjusted on the ex dividend date it was  to prepare the price for the pay date. 

The price was not moved again when the adjustment was made 

 

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