Octopus VCT - Dividend not received

astreix

I recently investmented in Octopus VCT ISA (direct investment with Octopus) on which dividend was due on 27th April.

This was not received - I followed up on the 30th April and they said "we are finalising payments and will pay it in the next few days to your bank account number xxxx".

It is now more than a week overdue.

Though new to Octopus investment, I invest regularly in stocks and over the years UK dividends are normally received on due date and at most faced a day or 2 delay in receipt of dividend for non-UK shares.

Is this common with VCT / Octopus that dividend is not paid for more than a week after due date?

Seems strange as the time between ex-div and payment date should be sufficient for companies to do what is necessary to pay out on time.

bowlhead99

astreix wrote: »

Is this common with VCT / Octopus that dividend is not paid for more than a week after due date?

Seems strange as the time between ex-div and payment date should be sufficient for companies to do what is necessary to pay out on time.

I can't comment on the timeliness of dividends from VCTs in general as I'm not looking for a regular income from mine - so will either just be reinvesting them or if I take the cash, putting them towards some other tax efficient investment at some point before the next tax year end. I rarely look at the due dates very closely.

But divs from VCTs vs 'ordinary companies'; their portfolio is extremely illiquid so perhaps cash was tight and some required cash didn't come in on time (some portfolio company income or exit proceeds).

Don't know why Octopus in particular would be a week late - from what I know of them they've always seemed to run a decent shop.

ffacoffipawb

Perhaps they have a few squid missing?

paulypost

My Titan dividend was paid on the 27th (3p per share) and in my experience Octopus always pay on time. As I recall the payment is linked to an earlier investment date. When you say you 'recently' invested, is it possible you missed that date and therefore did not qualify for this payout?