Long wait on Dividends

@Team212 @AlexK Hey guys, this is not a moan. Just seeking to check something. Are Dividend wait times getting longer. I know it’s normal 2/3 days after the pay date, but lately it’s becoming more like 6+ days. I have GSK and Altria Group still outstanding. I don’t mind the longer wait but as a user and a lover of the app, where I intend to invest a lot more I would really like a date set for when dividends would be paid. Like it’s set in stone max wait 5 days etc.

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i am waiting on Altria too, pay date is Fri 10 Jul 2020 so should not be long now

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@David Sorry forgot to tag you too. Any help with this one. I want to continue to invest and recommend 212, but I’d like a more concrete date set in stone for dividend payments.

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I recieved dividend for Altria today at 16:00 (UTC+1)

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Hello @RobK,

The payment of dividends to the client is a process that consists of certain checks and procedures that involve our intermediary, which may cause minor delays. Rest assured, if you are eligible for receiving such dividend, you will receive it as soon as practicable.

Concerning the dividend on GSK - it will be paid until the end of the week.
Altria Group - it has been paid out already.

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Thanks for getting back to me. Please don’t get me wrong, not moaning and I love the platform. I have no worries that it’ll get paid. Just wondering if there was a way we could get a feature on the app that could give us an estimated payment date and or amount for each stock. I indeed to keep on investing and love that app since the moment I joined it.

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Hi @PeterA, what is the usual timeframe?
Have dividends for Telefonica, TEF and Repsol, REP both on the Madrid Exchange been paid?
They were meant to have bee paid on the 3rd and 8th of July but I have not received any notifications and I cannot find any info on any dividends in my emails.

Sources for the dividend:
https://www.dividendmax.com/spain/madrid-stock-exchange/telecomms/telefonica-sa/dividends
https://www.dividendmax.com/spain/madrid-stock-exchange/oil-and-gas-producers/repsol-sa/dividends

Hello @EquityInvestor,

The usual time-frame under normal circumstances is 2-3 business days after the official pay-date if the dividend is paid out in cash by the issuer.

Due to the current situation with the virus and the financial instability that it has caused, a lot of companies are looking for ways to minimise their risk and protect their cash flow by paying their dividends through alternative means- which is the case with both REP and TEF. Unfortunately, this leads to complications as we are currently unable to pay dividends in forms, other than cash.

TEF case should be settled in the following days, while for REP we are waiting for the pay-date to be converted to cash.

I will get back to you and confirm when any of the aforementioned has been completed.

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Thank you for the reply @PeterA, very useful.
I was just waiting, it’s just that after seeing that it has been 12 days on Repsol (REP) I thought it would be best to ask, in case it was just an issue with my account and it had already been paid, as I think the usual timeframe on the app is under a week.

I believe that the dividend for Telefonica (TEF) had the option of both scrip and cash, so hopefully that one won’t be an issue. With REP I seem to remember that it was scrip dividend + buy back, which may make it more complicated.

Good luck with the process and hopefully it is settled soon :smiley:.

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Hey @EquityInvestor,

Telefonica (TEF) dividends have just been distributed to the eligible accounts. Thank you for your patience and understanding. :v:

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Thank you @PeterA, I just received mine :smiley:.

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@EquityInvestor Dividends for Repsol (REP) have been distributed as well. :call_me_hand:t4:

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Thank you for being on top of this @PeterA, I have received mine :smiley:. It came in fine :slightly_smiling_face:.

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Any news as to when the Stryker dividend will be in our accounts. It paid out on 30 October.

Update - paid right now