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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.
The capital return is now in my trading account
Our arrived in our bank account before 7am.
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
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
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.
LTI
Likewise my purchase on the 12th is not showing either. Full payment for the previous.
leas
Are you with HSBC investdirect like me?
I have sent them a message on the platform
I know some people on here have been confused with the XD and consolidation taking place,
but it is unacceptable for a share account provider to not know the number of shares on which to pay the 50.93p per share
mpw
''Settlement was on Tuesday 16th''
this date is irrelevant. The xd date was Monday 15th Feb.
So you didn't get the payment on your friday 12th purchase?
who do you trade with?
LTI
Just phoned my broker. They informed me that the dividend owed will be issued later today. They do NOT go off the settlement date but the purchase date. However, because TSCO will have referred to their share register on the close of the 12th and a crossover due to settlement would have occurred then the payment is delayed slightly.
Hope this makes sense and I am sure your broker will get many queries posing the same from other clients.
LTI, I’m with First Direct Sharedealing = HSBC.
LTI
Btw. my other dividend was issued directly into my bank account by TSCO the outstanding amount will be credited to my broker account.....
mpw
I hope you have contacted them about it
LTI, I will not contact them immediately.The missing SD is not a huge amount of money and it may all come out in the wash later today/next week.
leas
not quite sure how Tesco got involved with a payment to you for the capital return if you have a nominee account.
I cannot see why a purchase made the day before xd date should have the payment delayed compared with payment from previous purchases. There was a long enough gap until payment date.
mpw
mine is quite a bit of money which is why i have sent them a message rather than sit back and wait, only to find in a weeks time that it still hasn't been paid. I would probably have still chased it up for a small amount to keep them on their toes
LTI
I wont bore you with my tale of woes with a nominee account. I have been investing in the markets for about 40yrs. Made the mistake of switching from paper certificates by post to online 3 years ago. A nominee account run by SVS securities. I will never make the same mistake again.
I am not a trader so making a split second transaction is not so important but those thinking online trading is the future are very much mistaken. Eventually got all my money back from the administrators of SVS but a lot of patience and effort was needed.