Dividend Posting Discrepancies
I just noticed a discrepancy between TDAmeritrade and Schwab regarding the posting of dividends. I have the same Canadian stock in both of these online brokers. The dividend showed up in the Schwab account on the 15th, which was date of issuance. However in the TDA account, it still hasn’t shown up as of the 18th. According to TDA customer support, “it can take upto 10 days” for the money to show up in my account, because “thats how long the company takes to send it”.
Looks like TDAmeritrade is just enjoying a free 10 day ride on my money!
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September 18th, 2006 at 7:44 pm
That’s ridiculous- does the company send them a check in the mail?!
September 18th, 2006 at 8:20 pm
no, i think once a month they send a guy from the corporate headoffice in Toronto to drive to the different Canadian corporations, collect the cash and then they mail a check to the head office in the US.
From there its electronic
April 19th, 2008 at 8:18 am
This was 2 years ago so I am wondering now that you probably have the statement which the dividend is posted on, did it show it was posted on the date of issuance at TDA?
April 19th, 2008 at 6:37 pm
it took TDA an extra 2 days to post the dividends.
April 29th, 2008 at 4:32 am
I have Schwab and Sharebuilder accounts. I’ve noticed that although both credit the dividend on the date the company has announced, Schwab takes an extra day to reinvest the dividend– at the END of the second day– while Sharebuilder reinvests it immediately.
(Of course, I also have a Hong Kong-based brokerage, and there it’s not possible to reinvest dividends as no one deals in partial shares. So an electronic deposit simply shows up in my bank account within a couple of days).
May 4th, 2008 at 9:58 am
May 2008, I have Sharebuilder, Vanguard, and Mellon Investor which I track online. Sharebuilder almost always posts and reinvests dividends the same day they’re issued, occasionally a couple days late (are the payers commonly late to issue and therefore not trusted?). Reinvestment is always at the same time as payment. Vanguard and Mellon are both always late with dividends. Vanguard is even late with its own funds. Late often means a week or more! I always wonder why they don’t pay me interest for the use of my fund!
July 21st, 2008 at 7:21 am
Hi, I’m new to livingoffdividends.com, i recently read the philosophy, i’m only 19 and currently interested in passive income and investing my money. I’ve been working since i was 13 and always saving money, unfortunetly paying for college in cash took a toll on my savings. I was looking at investing in HTE, but only like $1000 or $2000 dollars, i was curious why it was stated that you need around $50,000 dollars to start investing in canadian reits and stocks. Anyways my email is edextraze321@yahoo.com if anyone could explain that too me or would like to help me learn about investing that would be great. Thanks
July 21st, 2008 at 8:33 am
Evan,
you do not need $50K to start investing in Canroys.
What I think was meant was that once you have saved up $50k then you can start investing small portions in various asset classes.
However, if you want to buy HTE go for it. It also has a sour crude refinery which is currently dragging down earnings, but will eventually pay out. And the sour refineries have bigger margins on the finished product than the sweet crude refineries, so they should do well.
If you have $1000-2000, check out Zecco . They offer 10 free trades/mo once you have $2500 with them. This is a cheap way to buy small quantities of stocks.
That being said, all investing carries risk and don’t bet your tuition money on the stock market!
July 21st, 2008 at 6:36 pm
Hi i’d like to thank you for replying to my post. Currently i have an account open with sharebuilder, but i’ll check out zecco. I was planning on starting with a 1000$ and working my way up, but it may be in my best interest to go with the 2500$ for the 10 free trades. I am actually currently entering my last semester in the fall, which i have the cash for so no need to worry i am not playing with the tuition money as education is an incredible investment of its own, and a great topic for another time. Thanks
July 21st, 2008 at 11:42 pm
also, you might want to consider buying companies that will probably do well in any market.
Walmart, McDonalds, Unilever, Johnson and Johnson are examples of companies that will probably be around in 50 years chugging out dividends.
My Mom owns stock in the Indian subsidiary of Unilever (called Hindustand Lever) about 20 years ago. She gets more in dividends every year than the original investment!
July 22nd, 2008 at 8:40 am
I’ll check those out, i have a small list of stocks i’ve been considering buying, all which pay dividends to be reinivested. However i have never heard of Unilever and i’ll have to check that out.
October 6th, 2008 at 6:44 pm
I’ve been watching the rumblings in the last bit, and the US economy is fully tanking. But why on earth does the value of the US dollar constantly rise?
I imagined that when the Fed printed more greenbacks, that would devalue the US dollar, causing it to drop.
The only circumstance that I can comprehend of is that perhaps other countries are devaluing their own currency so as not to nullify their exports to the USA? (I got the theory listening to a administrative program on Canadian tv)
Any opinions?
October 6th, 2008 at 7:56 pm
there’s been a flight to safety – people think the US dollar/US treasuries are a nice cozy place to be during tumultuous times.
I don’t think the dollar can stay strong in the long term. There was a presentation by PIMCO at UCLA last week – they’re of the same opinion.
June 22nd, 2009 at 11:52 am
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