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Reply from IG, re SD.
Thanks for your email.
Kindly note that there has been dividend payments, erroneously deposited in USD instead of GBP, and our team is currently working to rectify the issue. The correct amount will be posted in the next few days.
We apologize for the inconvenience caused, and thank you for understanding.
If you have any further queries, please do not hesitate to contact us.
Regards,
Why do I not believe this. Hmmmm.
HSBC invest direct have now transferred money into my trading account - equivalent to
the return of capital amount from my purchase on Fri 12th Feb.
There is no mention on the description as it being a 'divi' as was described on the return of my previously purchased shares, but simply a 'transfer'.
Utterly amazed, didn't know that folk still messed about with share certificates in this day and age.Last time I had any was over tewnty years ago.
I think you give the BoD far too much credit...stupid is as stupid does...and the SD that wasn't a Dividend by any twisting of the dictionary term is proof positive of that ! As for incredible machinations such as you describe ? Nah not buying it at all !
"Tesco management look to have a nice approach to adding shareholder value. Spare cash used to reduce the float of the shares making future EPS growth excel by 20%. They are basically giving the money back to the shareholders and hoping they repurchase boosting the share price even more. I see this pull back as being healthy, higher lows and higher highs to come. (that means weve had a 25% jump then a 10% pull back, then hopefully another 25% charge upwards to 280p ish.
I have two ISA's both contain TSCO, they are with AJ Bell & HL. I have to say that all dividends inc this latest offering arrive very promptly, always the same day with both companies. Sad to hear about other people not being paid in time.
Hi all did get some money from IG finally. Wrong! Phoned up! I know what a game they say it's in the hands of IT dept. They will sort it out but as I told them they have had months to be prepared for this and it's ridiculous no information about what's going on unless you are prepared to spend 40 minutes on the phone. We should be getting the rest of our money once the IT dept sort it. We live in hope. This as been ridiculous from start to finish when that will be well your guess is as good as mine. If anyone gets second part of money will they post.
IG have screwed up again.
Their corporate side of things are disgusting!!
Thanks Mike
Mine hasn't come through yet. Is there anyone else that hasn't received!!
DT270380,
"don’t understand why they had to issue a new rns today?"
Probably it's a regulatory requirement on *all* listed companies to do these once a month, or something like that, as a matter of course. Look at the RNSs of BP, for example - it's just the same.
Rgds, Mike.
The dividend should be at the preconsolidation number of shares and not post consolidation.
Which is exactly the same number of shares they told us were on the market in the rns on feb 15th - don’t understand why they had to issue a new rns today?
on market now stands at 7,731,707,820
Thanks for getting the IG update! Sounds like they’ve right proper norsed it up!
Don't panic my equinti still not paid out 40millon buy near end share price 2.26 hopefully it will all kick in and the the price kicks on hopefully we all got our reinvested at a good price good luck all.
IG have said there is an issue with the share allocation and the conversion shouldn't have happened. Some accounts also won't have received it today. It's a problem their end and should be resolved within 24 hours.
Hi lynny, still not got mine have emailed them and see what they say. Feel ripped off if they only giving out dividend payment for number of shares after the consolidation. As it seems and not on the number owned prior.
@phys10 Hi SD still not in account rang IG they say should be in today but not all paid yet. That was about 4.30 Ok
Me too. Why has the Tesco special dividend been converted by 0.71391184? My wife has TESCO shares with Hargreaves Lansdowne and her special dividend was paid in full... no conversions.
The budget will be a non event as regards most prices. Rishi won't upset the apple cart. I am comfortable adding at these levels as the dividend is solid and progressive. Added today. GLA.
DYOR
HTH
None of our lovely BOD's seem to have enough faith in our company to make any director purchases since the debacle of the "Special Dividend", there hasn't been one purchase. In fact the only transaction of interest was a director selling £223K's worth in early Feb. This IMO speaks volumes sadly. I'll be joining them all & won't be re-investing my 3K either, there rant over!!
With the budget coming up maybe supermarkets could get hit, Tesco already given back the tax relief, even though the costs for Covid outway that figure and still counting for so called “covid” related absences. The share consolidation was supposed to keep the share price at pre-dividend highs, but that’s dropped approximately 25p due to the stock market. I’ll wait till after Wednesday before I buy back in, this could dive.
Rock
Maybe institutions that sold in order to avoid tax on the SD are buying back. One thing for certain, they will try and buy back at a price lower than they sold at.
Hi guys, I'm on IG, my SD just came through but it's lower than I thought: Tesco PLC DIVIDEND (no of shares)@0.5093 Converted at 0.71391184
What's the reason for the conversion to give 71% of what I thought was coming?
I'm on IG, mine just came through but it's lower than I thought: Tesco PLC DIVIDEND (no of shares)@0.5093 Converted at 0.71391184
What's the reason for the conversion to give 71% of what I thought was coming?