Hi @ASInvestor
Thanks for your feedback. I wanted to look into the conversation to understand what happened here.
In the case of the dividend that was delayed in payment to your account for six business days the reason was down to issues with reconciliations. We had customers transferring positions in the same share out to other providers, for whom we received dividends after they transferred (these are moved on to the new broker). This can cause a delay as we need to go through and verify that customers are being credited the correct amount. Normally this does not take six business days however the impacted ISINs included three of the largest and most widely held dividend payers - TRIG, VUSA and STHS - adding complexities here.
Your suggestion that this is happening on a large scale and in a deliberate way is simply not true, Iām afraid. The message you responded to explains the typical process and timelines. In the case of your dividend that was held for six business days it accrued 5p of interest. The total repayment you received in this case was not solely in acknowledgement of the interest income.
Any interest that may be earned while a dividend is sitting in an interest bearing client money account is very small.
Over 96% of dividend payments are completely automated and paid within 0 to 1 business days.