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Give me my damn dividends

General discussions about equity high-yield income strategies
Whatsitworth
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Give me my damn dividends

#672678

Postby Whatsitworth » July 4th, 2024, 7:13 pm

When I’m paid dividends on HL they are paid into my account but are not able to be used/reinvested for quite sometime. For example I was paid by shell and niox on the 24/6/24 which shows up on the cash value in the app but not in the available to invest part. Annoyingly I wanted to invest them into another company in the portfolio which has gone up about 12 percent in the last 10 days which if now missed out on. Iv even had some dividends that have been held for up to three weeks.

Didn’t HL recently report record interest income :x

Golam
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Re: Give me my damn dividends

#672681

Postby Golam » July 4th, 2024, 7:27 pm

Are you transferring your income to your capital account ? Only then can you use your income.

Gerry557
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Re: Give me my damn dividends

#672687

Postby Gerry557 » July 4th, 2024, 7:40 pm

I found that dividends can be used to purchase more shares as soon as they show in the account but it takes a couple of days if you want to withdraw the cash into your bank.

I thought that was the same with HL when I used them but have moved my holdings a while back.

You should give them a ring and discuss your concerns

londoninvestor
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Re: Give me my damn dividends

#672688

Postby londoninvestor » July 4th, 2024, 7:41 pm

Golam wrote:Are you transferring your income to your capital account ? Only then can you use your income.


Yes, even if you've set your dividend preference to "Hold as cash (uninvested)" it sits in the income account for a while before being automatically moved:

https://www.hl.co.uk/help/income-and-fees/income-and-dividends/income-payment-timings

Hold as cash (uninvested)

First 10 working days of each month

Your income will be moved to the Capital part of your account in the first 10 working days of the month.

You can then invest it as you wish, or withdraw it to your nominated bank account where possible.


You can however force it across to your capital account without having to wait. Go to the "Cash" tab on your account, then "Income and Loyalty bonus", then "Transfer your income to your capital balance now".

Whatsitworth
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Re: Give me my damn dividends

#672693

Postby Whatsitworth » July 4th, 2024, 8:19 pm

londoninvestor wrote:
Golam wrote:Are you transferring your income to your capital account ? Only then can you use your income.


Yes, even if you've set your dividend preference to "Hold as cash (uninvested)" it sits in the income account for a while before being automatically moved:

https://www.hl.co.uk/help/income-and-fees/income-and-dividends/income-payment-timings

Hold as cash (uninvested)

First 10 working days of each month

Your income will be moved to the Capital part of your account in the first 10 working days of the month.

You can then invest it as you wish, or withdraw it to your nominated bank account where possible.


You can however force it across to your capital account without having to wait. Go to the "Cash" tab on your account, then "Income and Loyalty bonus", then "Transfer your income to your capital balance now".


So it has to be done via the website not the app?
Thanks

londoninvestor
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Re: Give me my damn dividends

#672695

Postby londoninvestor » July 4th, 2024, 8:21 pm

Whatsitworth wrote:So it has to be done via the website not the app?
Thanks


Sorry, I don't use the app so I'm not sure about that!

the0ni0nking
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Re: Give me my damn dividends

#672701

Postby the0ni0nking » July 4th, 2024, 8:33 pm

I can't comment on HL, but on iWeb my dividends seem to be reinvested on the day after payment date (as that Is what I requested) with and cash difference credited to my account the same day and immediately available to trade.

That seems blooming good to me (as an ex-HSBC InvestDirect customer).

Crazbe7
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Re: Give me my damn dividends

#672880

Postby Crazbe7 » July 5th, 2024, 12:29 pm

Whatsitworth wrote:When I’m paid dividends on HL they are paid into my account but are not able to be used/reinvested for quite sometime. For example I was paid by shell and niox on the 24/6/24 which shows up on the cash value in the app but not in the available to invest part. Annoyingly I wanted to invest them into another company in the portfolio which has gone up about 12 percent in the last 10 days which if now missed out on. Iv even had some dividends that have been held for up to three weeks.

Didn’t HL recently report record interest income :x


I don't have that problem and have had a Share Dealing and Share ISA with them for ages. For example, today I've received a dividend from WPP in my Share ISA and I should be able to trade or withdraw by this evening. I don't use the app, only via my PC.

The only delays I've experienced are for ITs and REITs.

I'd chat/talk to them for clarification on why you experience a delay.

Crazbe7

Whatsitworth
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Re: Give me my damn dividends

#672915

Postby Whatsitworth » July 5th, 2024, 1:43 pm

Golam wrote:Are you transferring your income to your capital account ? Only then can you use your income.


It’s bit like when you check your balance at a cash machine. It shows the balance and also the available balance. It’s like the payment is stuck in no man’s land.

Golam
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Re: Give me my damn dividends

#672925

Postby Golam » July 5th, 2024, 1:59 pm

Whatsitworth wrote:
Golam wrote:Are you transferring your income to your capital account ? Only then can you use your income.


It’s bit like when you check your balance at a cash machine. It shows the balance and also the available balance. It’s like the payment is stuck in no man’s land.

It's not stuck in no man's land. You can make it immediately available with a few key strokes. See londoninvestor's earlier post.

GoSeigen
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Re: Give me my damn dividends

#673027

Postby GoSeigen » July 5th, 2024, 10:19 pm

londoninvestor wrote:You can however force it across to your capital account without having to wait. Go to the "Cash" tab on your account, then "Income and Loyalty bonus", then "Transfer your income to your capital balance now".


This.


GS

PJ0791
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Re: Give me my damn dividends

#673464

Postby PJ0791 » July 8th, 2024, 3:56 pm

Whatsitworth wrote:
londoninvestor wrote:
So it has to be done via the website not the app?
Thanks


It's website only for this.


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