Scrip Dividend Shows as Error

Q&A
1

Hi

Some of my scrip dividend entries show as red font or boxes even though I’ve checked that the ex date and scrip share issue price are correct. Any idea what else I might have gotten wrong?

I’ve attached some examples.

Thanks!

Screenshot 2022-03-15 at 3.56.53 PM
Screenshot 2022-03-15 at 3.56.53 PM1148×185 34.1 KB

2

Hi there,

Thank you for reaching out.

I took a look at it (at least at OCBC). It is because the scrip amount is larger than the dividends you would have received otherwise. Specifically, 14 shares x 11.93 = 167.02 where as the dividends for 12 May 2021 was 0.159 and with 1,021 shares that you own, it should have only been SGD162.339.

So, the solution would simply be to change the price of 11.93 to a lower amount such that it will be less than or equal to 162.339.

Cheers,
Evan

3

Hi Evan

Thanks for your reply. I’m still quite puzzled at the discrepancy as the scrip dividend issue price was announced by OCBC as 11.93. Is it possible that they’ll change the scrip dividend issue price for the actual issue (for example based on share movements closer to the issue date)?

4

My understanding is that “scrip dividend issue price” is just how much they value it to be. I guess they would value it higher to make investors feels like it is more worthwhile to choose shares over cash?

Anyway, it is perfectly fine to ignore the red font / boxes, they are just used as a check in case users enter things wrongly.