Читать книгу The Dividend Investor - Rodney Hobson - Страница 37

You may think that there is absolutely no reason why the cheques or transfers cannot go out first thing Monday morning, and you would be quite right, but alas there is further delay before you get the money that is rightfully yours.

The company arbitrarily sets a date on which the dividend is actually paid. As with all the other dates in this equation, the interval can vary considerably.

For instance, although Cookson takes a full two months to announce its annual results and a further two-and-a-half months to go ex-dividend, its dividend payment date is just two-and-a-half weeks later. BAT can get its results out in less than two months and goes ex- dividend only two weeks later but it takes nearly two months to actually shell out.

There is no logical reason why any company should delay the payment of dividends once they are announced. Those that do so tend to be somewhat defensive if you raise the issue.

They normally argue that as long as the dividends come round at regular intervals, that is all that matters to shareholders. The company is making good use of the money in the meantime, they say.

Once we finally reach the dividend paid date, it can still take a few days before your money is actually in your bank account, even in this electronic age.

There are two methods of payment: through the Bankers’ Automated Clearing Services (BACS) system, where you are paid automatically into your bank or stockbroking account, or by cheque.

You may have no choice in the payment method. Most accounts and virtually all online accounts are arranged so that dividends are transmitted into your stockbroking account by BACS and, if you have asked for the cash to come to your own bank account, will be transmitted onwards by your broker, also by BACS.

Check with your broker when you set up your account what the payment method will be.

There are several advantages of being paid by BACS:

 The dividend is transmitted from the registrar on the payment date and should appear in your own bank or stockbroking account within a couple of days.

 There is no chance of the payment being delayed in the post.

 You do not have to wait for a cheque to clear.

 This payment method is more secure than receiving a cheque through the post.

 If you move house, payments will not be directed to your old address.