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Finally converted, but took a complaint and an escalation!!
IG Corporate Actions team are the pits!!
I've had to raise yet another complaint with IG.
I was told to wait another two days!!
Probably would still been waiting and waiting if I hadn't contacted them!!
IG still haven't converted mine and yes, it's Tuesday.
Messed up my IAG RI too.
Cheap trading, but terrible customer service!!
IG are pretty poor adding anything.
Need to sort out my BNC RI if not sorted today!
Hopefully the BP dividend will be showing by lunchtime.
My 271 new shares have been allocated at some point today. (idealing.com), yours will soon be there. Don't stress.
Take care
No conversion added at IG yet.
Should be there by Monday I'd imagine.
I am with Halifax,and no sign of my new shares yet. D
No extra shares but I did get 81 pence !
Anyone know of any other low PE European Stocks that also trade on London stock exchange.
These Santander shares are mostly overlooked by UK investors presumably because they are not in any of the UK indices.
My free Santander shares not ready yet either.
Phoned AJBell this morning and was told they have already received the new Santander shares in one big batch and have to reconcile how many goes to each person. So admin is slowing this process down.
Not converted yet.
I'm with IG.
Expecting 142 shares.
I have received my scrip shares
When .? They seem a long time converting
Shares held via equiniti employee portal
I am still waiting as well
I understood that they would be added to our account on 11th Dec.....
Swing towards buy, DYOR
:+)
SP back to March pre lockdown levels. Brexit deal is pretty much nailed on and will add another 30% so SP should hit 300p pretty quickly. All IMHO and DYOR.
Does anyone have any views of how a no deal Brexit will affect the SP?
Information on the free shares can be found here https://www.santander.com/en/shareholders-and-investors/santander-share/dividends
More detailed information can be found in the information memorandum beneath that link.
If you own Santander shares by 13/11 and if they are registered by 17/11 you are entitled to the free shares. You should receive 1 free share for every 23 you own.
I've just received a message from IG regarding this RI.
I wasn't aware of this to be honest.
Are these free shares?
I currently hold 3272 shares.
I and my parishioners are a little confused, so correct us if we are wrong. We hold shares in Banco Santander following on from the Abbey National days. Everybody keeps on about a rights issue. Surely this only occurs when something is offered for sale. As this is not costing us anything, I think, shouldn't the correct terminology be that it is a scrip dividend.
every blessing rev shep
It's just like a dividend. You could also say dividends aren't helpful as they decrease the SP once they go XD. Banks were told not to issue dividends this year due to Covid. Santander found a way round it with this rights issue. The new shares are received on Dec 11th but should be able to trade the rights to them before that date - not sure when though - I thought the rights would be tradeable by today. I would expect an SP drop of about 8p/9p as soon as the rights are tradeable. So, if you have 1000 shares you will get an extra (1000/23) 43 shares worth about (43*2.07) £89 on Dec 11th.
Good point Low:
Just been advised by my broker...so for 10k shares ...i would receive 10000/23 × 2.07 at todays price...
Obvious question is if theres a share dilution will the SP decline when the rights are issued and if so to what level?
Or am I way off the mark here ?
Can anyone explain how Santander creating extra shares in lew of dividends benefits existing shareholders.
Surely I will end up with slightly more shares however each existing share will be worth a slightly smaller fraction of the company because of the dilution effect ?????????