adam_w
(Adam W - Associate Director - Brokerage Ops)
1
Hey everyone
We’re always working to make our operational processes here at Freetrade more efficient and more scalable to improve your experience when using the app.
Following your feedback, we’ve made a number of improvements to how we manage and pay out dividends.
These changes sit across the entire end-to-end process, including our ability to capture dividends paid to us, any foreign exchange requirements, and paying those dividends out to you.
What this means for you is that you’ll see US dividends hitting your account more quickly and more consistently going forward.
We’re also working on making these same changes for EUR and GBP dividends - so keep an eye on this thread for any updates.
More interested in this improvement (for myself at least). But glad to see this is being worked on in general
I’ve noticed that payments have lagged a little more recently than they used to. And could be improved when compared to competitors (HL are paying pretty much same day, or maybe next day at the very latest).
Do you have any insight into what kind of specific improvement we’re likely to see?
3 Likes
adam_w
(Adam W - Associate Director - Brokerage Ops)
3
Sure, you should expect to receive US dividends the same day we receive them from our custodian, this is typically the day after the published pay date of the dividend from the company - this additional day is due to the need for our custodian to receive the dividends for all their customers from DTCC first, then reconcile and distribute. Hope this helps.
I did notice that the payment of dividends seemed to take longer and longer. It even got to the point where Trading 212 were paying the dividends days before FT for the same stock.
Fingers crossed the improvements will get FT back on track with paying the dividends to a more amenable timeline.
Thought things were improving when LGEN paid on the correct day, but still waiting on ORIT from 2nd of June. That’s a week overdue now - about the longest wait I’ve had.
