Thanks Eden, with the BCPT share it’s a monthly so it was the previous month I didn’t get the dividend. But this was very helpful
I have to chase FT for nearly all dividend payments. I have to place reminders in my diary to ask them for the payments. In most cases this is for US stocks. I have 21 companies to keep track off, an I imagine that there are some that I miss.
I’ve tracked all my div payments and Freetrade has paid every single one. Sometimes there is a few days delay, but it is very unlikely that Freetrade just decides not to pay you a dividend.
Hi, just an update. I have just received my N91 dividend, so it may have been me just being impatient on that one
Really? I have many dividend stocks and they ALL get paid even if late. Are you seriously implying that FT need a nudge to actually pay out? That would be some pretty shocking and possibly illegal news for FT customers but I doubt it is true and maybe just like @Dark-side-of-the-moon it is being impatient?
Have they actually not paid and acknowledged the issue then paid or just paid after you contacted them and they paid which they would have anyhow as they often pay a day or so late?
If this was true surely you would find a different broker as this would be beyond terrible!!!
Probably true In the world of quick wire transfers I expected quick transfers and reconciliation.
Last time I emailed FT to ask where the money was the coupon payment was 8 days after the pay date.
In most cases I believe dividends are paid out usually within 1 business day. For US dividends this might fluctuate a little but I’ve very rarely seen it go more than two business days. If there’s every been an issues it’s usually been an anomaly. Are you really not getting paid dividends unless you ask?
US divs seem to take a week.
If after five working have passed, I send in an email listing the unpaid stocks including Ex-dates and Pay-Dates. FT reply telling me there is some sort of delay, and that " company is a US dividend so may take a little longer, it can be up to 10 working days for US dividends to arrive to us.", or " Apologies, we’ve had a delayed in releasing notifications for dividends." Something is not working 100% all of the time. Ha ha!
I am glad to report that the divs get paid in the end.
UK dividends seem to be paid without a hitch.
- Add a filter to the Activity tab in the app letting us sort by/filter on Dividends.
- Don’t backdate the payment date of the Dividend. Use the actual timestamp of the funds credit to the client account. Currently, when a div that should be paid on the 30/1/21 is paid by FT on the 2/2/21, it is then added to the Activity log with the 30/1/21 date! This means I don’t see the payments that are delayed. Especially when these are delays by many days.
- Pay the US divs out in to a USD pot instead of converting straight into GBP, because I prefer to choose to exchange myself.
This would a require a USD account (and of course wouldn’t apply to your ISA). There’s a thread about this idea somewhere
I haven’t got an ISA.
Anybody trading US stocks does not have these in an ISA.
ISA is completely out of scope.
Most of my stocks are on the US market
I have a USD currency account with my bank. Or just use a TransferWise account, or perhaps Revolut .
They wouldn’t as you can’t have foreign currency in an ISA.
For a GIA as I mentioned there should be a topic for that request
You’ve got to find a way of making money if your FT, before this you’d have been charged a year of ISA membership most months. 0.45% is a very cheap FX fee anyway.
I know. I did not complain about the FX fee.
I want to convert the money from USD into GBP when the rate is favourable to me. Instead of happening when I get paid a dividend. Hence a request for a USD pot, which I can exchange into GBP via FT into our existing GBP pot.
Typo. I meant does not. ( which was obviously a typo). Corrected my earlier post.
Having a $ pot just to wait for a target exchange rate is basically FX trading and that’s not something FT have ever talked about.
Having a USD pot that you could not buy stock from would be madness.
Didn’t say one could not buy stock from it, did I?
I said we need a pot.
Since we are all fired up over divs and USD pots, could you please vote for this guy’s Feature Request ?
I have loads of US stocks in my ISA, there’s no rule to prevent that. You just can’t hold cash in USD
As @Doubledig said this has been my experience also. There has “always” been an email sent with every dividend paid and in the hundreds of such transactions over the past year I have never had a dividend “missed” by FT or other discrepancies. Sometimes however it is difficult to notice the notifications (ironic I know) especially if you have loads of trades (like myself for instance, who buys stuff just about every day). This is because your activity feed shows the divi on the date it’s issued rather than the day it’s distributed and sometimes it will show not at the top of the feed but way below. This problem with dividend clarity and general lack of reporting features has been highlighted and discussed before too and there are some other suggestions that you can find which are interesting & will make our lives easier IF they are ever implemented
Like yours, my Activity feed has fail trades.