XLM has had a strong recent run but there seems to be a delay in the last dividend payment being paid out.
The company are blaming the bank but I'm just wondering if any other fellow Stocko subscribers would read any red flag in this issue or not ?
Regards
There is a comment on the LSE site from someone who has investigated the issue and following a call the fault been told the fault lies with the bank due to a human error or technical issue.
No red flag for me yet. The company has explained the reason and I have no reason to believe its not true. I have previously been let down by a bank cocking up a transaction, so it certainly is possible. If I recall correctly, the div from XLMedia (LON:XLM) is always a little slow to be received; though that could be my broker...
Given the recent unobstructed 25% surge in the share price from around 135 to 170, I'm not at all surprised it is slightly retracing with some profit taking. I attribute nothing malevolent to that.
This is what XLMedia (LON:XLM) said in their RNS but that was 2 days ago and my concern is that I would have thought that a new payment date would have been forthcoming by now, if that was only the case.
Perhaps the human error paid the funds elsewhere rather than not paid at all; now that would be a problem !
