Dividends Not Paid During Transfer

doodle483

I’m stuck on where to go next and wonder if anyone can help.

I transferred some shares from HL to T212. I initiated the transfer at the end of January and HL say they transferred the shares on 6th Feb. It took a while for them to appear in my T212 account and T212 say the transfer took place on 2nd March.

The ex div date was 12th Feb and both HL/T212 are saying the shares were not with them so no dividend was paid to them. Where can I go from here? I contacted Equiniti (company shareholder) who said the issue was nothing to do with them as they do not hold my shares.

Any advice appreciated on how I can clarify who the dividend was paid to or clarify the date of transfer.

jaybeetoo

If the ex-dividend date was after the shares appeared in your T212 account then it is their responsibility.

masonic

Transfers between HL and T212 have been reported to be fairly quick recently. It seems unlikely T212 wouldn't have custody by 12th Feb, but the only way to be sure is to make a complaint against both until you know which is responsible. In my experience my shares appeared in T212 a day or two after they disappeared from HL.

doodle483

https://forums.moneysavingexpert.com/discussion/comment/81909618#Comment_81909618

When I queried the delay they said that they ‘couldn’t match on the market’ on the first attempt and tried again after I queried. I suspect that T212 have the correct date and HL are mistaken but they seem adamant.

I transferred three holdings; two went straight away but there was a delay with this one. I’ll make a complaint to HL and see how this goes. My experience with HL over the last year is that they are fairly disorganised, so it may just need to go higher.

doodle483

https://forums.moneysavingexpert.com/discussion/comment/81909615#Comment_81909615

It was before they appeared in my T212 but (supposedly) after HL say they transferred to T212. Dividend no mans land, apparently.

simonpies234

Shouldn't the dates be consecutive. Else who owned them during the days between. That's who got the divi.

simonpies234

Acutally concurrent.

masonic

There will be a specific date when T212's nominee became the holder of the shares. HL would not normally remove a holding from the client's online account before this date.

If there was some issue with this particular holding that caused it to transferred to the wrong nominee, then that could lead to the dividend to be paid to a third party, but in that case someone will be at fault and will need to cough up some compensation.

simonpies234

The first thing that jumped out to me was the huge difference between the 2 dates given. You could complete on house purchase from start to finish between those 2 dates.

Somethings not right.

doodle483

https://forums.moneysavingexpert.com/discussion/comment/81909783#Comment_81909783

I agree, but HL are only this morning standing by the 6th Feb date as when shares transferred and T212 stand by 3rd March date. I have logged complaints on both sides and ask that they speak to each other to resolve.

Is there an independent body who can confirm who held the shares on the ex div date or who can confirm where the dividends were paid? I have emailed Carnival IR but am not expecting much help.

The dividends aren’t much in value but it’s the principle that it’s my money! Thanks all for your help.

simonpies234

Also why say this ‘couldn’t match on the market’, that to me implies selling. So I checked google AI and it's when the broker you transfer to does not have the asset you hold, so they sell and rebuy back a 'similar' product.

But you say it was shares. So why the need to sell.

Was they sold on the 6th and you held cash until 2nd.