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Upgraded by credit Suisse and Sainsbury's downgraded. All set for a rise here surely.
https://www.sharecast.com/news/broker-recommendations/credit-suisse-upgrades-tesco-downgrades-sainsburys--7822872.html
LTI
Likewise my purchase on the 12th is not showing either. Full payment for the previous.
LTI, I’m in the same situation having topped up on Friday 12th. Settlement was on Tuesday 16th so maybe that’s why the SD was not paid on those shares even though they were included in my total holding when the 15/19 consolidation took place.
I would rather the payment of the return to take a while than get it quickly and be short of a lot of money. I am not very happy about it to say the least.
I bought on the 12th feb which has now been consolidated but no capital return on the purchase
Those sneaky institutions will wait before reinvesting i bet and let the madding crowd run it up next few days...and then buy on the drop
Money showing in Interactive Investor so I’ve just manually reinvested. So, before this nonsense I had 8098 shares, I now have 8302 shares.....I guess that means I’m slightly better off?!
Nothing in Barclays investment account yet, but Equiniti in.
A mistake has been made on mine.
I made a purchase on Friday 12th Feb for which I have not been paid a capital return
Our arrived in our bank account before 7am.
The capital return is now in my trading account
my share trading account - no return of capital in the account yet, but I have got a £2.11p
payment relating to Tesco, which is obviously from the remainder of a share after the consolidation.
It looks like a remainder was calculated at the nominee account provider level, rather than
individual investors using the nominee.
These guys have taken a keen interest in Tesco
Sierra Inv EP Emerging Eq Unconstrained
https://www.morningstar.com/stocks/pinx/tscdf/ownership
Even if every investor had their return put in their trading account before 8 am (which I doubt)
you would not get every platform making a drip purchase at 8 am. They will do it in their own time I am guessing.
Thanks, that's clear. My principal interest was to establish that there will be some relationship tomorrow between the dividend and price action.
I am in DRIP. Will the dividend be invested at tomorrow’s open price and new shares posted tomorrow? Thanks.
J882
Some platforms may take longer than others to get the return into their clients account, especially those that have proceeds go into their bank account as opposed to their share trading account.
HL move dividends once a month onto your account, usually around the 10th of each month so unless you have your dividend payments set to reinvest then you won’t see the cash in your account until the 10th March however it will be paid out by Tesco tomorrow
Norrab, thanks for clarifying. I have an HL account and their circular on the topic is ambiguous. I definitely says at one point that funds will be cleared to my account on 10th March. In another place, it states that the the SD is "payable" on 26th Feb. I'm surprised there was so little movement today - I would have thought IIs would be building positions by now, from reserves.
They might review that if Sunak does a one off levy on those who have done well in the pandemic
( Supermarkets ) as has been suggested. K
Your understanding is a misunderstanding.
Special dividend paid tomorrow 26th Feb.
Anyone shed any light on what will influence the SP tomorrow? My understanding is that the cash from the dividend won't be available until 10 March.
Snippet from CREDIT SUISSE : IT RAISES TESCO TO 'OUTPERFORM' ('NEUTRAL') - TARGET 280 (290) PENCE. Positive rating!
JJ Agree notwithstanding the fact each share has basically mushroomed in real value by 20% as a result of the consolidation meaning less supply for Mr. Market to consume when all the institutions (80%) start gobbling up shares to rebalance their Dividend portfolios.
it must move the share price north. I would expect to see the TSCO share at 240p+ in early March. JJ
You will receive a dividend payment on Friday 26th which HL will reinvest in TSCO on March 11th if that is your instruction on income. The DIV tomorrow wil make up the difference (in theory) It is a lag only.