Dividend Payments after broker transfer

Gizmo70

Hi,
I've just recently moved my funds from Interactive Investor to Halifax Share Dealing but I am a little confused about dividend payments. A number of the funds have ex dividend dates of late March / early April but distribution dates of end of May / early June. When I spoke to Interactive Investor they said that it would be the new broker (i.e. Halifax) that would be adding the dividend payment as that is where the funds now are, whereas Halifax are saying that the dividend payments will be going to Interactive Investor as that is where the funds were at the time of the ex dividend date.

The funds are:
Vanguard LifeStrategy 60% Equity A Inc (GB00B4R2F348)
Vanguard LifeStrategy 80% Equity A Inc (GB00B4KWNF91)
Rathbone Income Inst Inc (GB00B7FQLQ43)
Newton Global Income W Inc (GB00B8BQG486)
PFS Chelverton UK Equity Income B Inc (GB00B1FD6467)
JOHCM UK Equity Income Y Inc (GB00B95FCK64)
AXA Global High Income Z Gross Inc (GB00B29NG940)

My instinct is that Halifax are correct but does anyone know for sure / can point me at proof?

Thanks

dunstonh

If you did a cash transfer then the dividends would go to the original firm. Most providers/platforms will mop these up later and send them on or require a prompt from you to do it.

george4064

The dividends will be sent to whomever the units were registered to at the time the units went ex-dividend, if that is your old platform they should have a process to sweep up these dividends, forward them onto your new platform and then credit them to your new account.



Exact same thing happened to me when I transferred from HL to AJ Bell, no issues at all.