I hold Belvoir (LON:BLV) with IG. The dividend (5.4p) was to be paid on the 30th of October. According to IG, should go into your account 3 days later. As yet I haven't received mine. I have contacted IG who are now investigating.
If you hold Belvoir with IG please check that you have received your dividend payment. (Ex dividend date was 17th September)
Lloyd
I am an ecologist that gets to play with Owls, Snakes, the odd Beetle, and maybe a newt or two. Of course this doesn't really pay very well, so I invest. more »
Ig Group (LON:IGG) are terrible at paying dividends on time. The trouble is they are not really a stockbroker and I believe they have to work with a third party custodian to provide anything like a full service, including for handling dividend payments. They are a spread betting company first and foremost but generally their share dealing execution is fine and their charging structure competitive.
I have three dividends that are more than a week late being paid; Belvoir (LON:BLV) and Wynnstay (LON:WYN) are over a week late and the Urban Logistics Reit (LON:SHED) special dividend more than 2 weeks. It is not the first time this has happened and I will now be making a formal complaint. And then seeing as I have a bit of time on my hands, and being a stroppy bugger, if I'm not happy with their response I will start a FOS complaint and contact the FCA. I don't expect that to result in much so will almost inevitably end up closing my accounts and move elsewhere. As a shareholder in the company, it's particularly disappointing.
All the best, Si
It always seems to happen when you are short of the readies, perhaps it was like-wise with IG.
It always seems to happen when you are short of the readies, perhaps it was like-wise with IG.
I don't believe this is the case. The good thing about IG is that they pick the phone up on a Sunday. I have just spoken to them and made my feelings known. They admitted it was really not good enough and at least I found out the custodian at the root of the problem is Citibank. They assured me that they are aware of certain issues involving Citibank (including late payment of small cap dividends) and they see the share dealing service as an important source of growth moving forwards. I expect the delay in dividend payments will get sorted as part of this process, but let's not hold our breath.
All the best, Si
