My question is basically why are they so far away from the payment date? It’s infuriating!
I can understand a small window, maybe a week, because it prevents trading before earnings reports, but I don’t understand why they need more than that.
Today I just received a dividend of £1.83 from MNG. Which sounds great, except it was only for 15 shares and I actually own 264 shares because I’ve been buying more shares every day as I dollar cost averaged my way into the market.
Given the dividend was much higher than previous ones, this is really annoying, but I only have myself to blame as I was only a couple of days into my investing on the ex-dividend date, and I haven’t even thought about dividends and deadlines at that point.
I’ve been caught out by it to a lesser degree with some US shares where the difference was about 1-2 weeks, but 6 weeks gap between ex-dividend and payment seems excessive.
Does anyone know why these periods are so long? And is there a general difference between US and UK companies in this regard? Or is this just MNG?