(Repost as I originally posted from my Mum’s account instead of mine)
Hi, I would like to check with the community here if they have any encounter with dividends not received even though the shares are purchased one day before the ex-date in the SRS account .
My understanding is that as long as the trade is before the ex-date, it would be considered as eligible for dividends.
T - Trade date.
T+1 - Ex-date
T+2 - Settlement date and Record date
As long as Settlement date = Record date, I should be able to get the dividends right?
Yes, it should be correct.
Why do you think the dividends are not in? They usually take a few business days after PayDate to show up.
Hi Evan, i had already received the dividends for existing units that were bought before long ago in the SRS account. However, I did not receive dividends for the units that were bought a day before ex-date. Hence, I concluded that it was missed out.
I see. Interesting. Never knew this could happen.
I am following up with DBS on this. Just received a call this morning and they claimed that the transaction was made on the ex-div date, which is obviously not correct. I just sent them my contract note and evidence to support my case that I bought it before ex-div date.
Got the update from DBS that this is due to late settlement by the broker, resulting in their records wrongly indicating my transaction on ex-div date. I am entitled to the dividends, pending the broker’s transfer to DBS.
Glad you got it resolved!
Hmm… I wonder if they would still send you the dividends if you did not notice it.
Yeah, I wonder if this would automatically resolve on its own without my interference. I suppose there would be a SOP on both sides to settle this. I don’t think I am the first and only case.