The Lemon Fool

I still haven't been paid my VWRL divi due 29 Sep '21.

Anyone else?!

It was in my Hargreaves Lansdown account by 1/10/21

Rajput1962 wrote:I still haven't been paid my VWRL divi due 29 Sep '21.

Anyone else?!

Same here, they replied to a secure message yesterday saying it's still within their 10 day window. I guess it will turn up tomorrow.

Likewise for all of my Vanguard ETF funds. They do say to allow up to 10 working days, so I was going to wait until the end of this week before sending a message to see what is happening. It does seem a much longer than usual delay this time, however. Usually I have received payments within a few days of the latest date in the notification message (I think the relevant date I saw for my holdings this time was 30 Sep rather than 29 Sep, fwiw).

I have just had a closer look at my account with Vanguard. VEVE had a dividend payable on 29 Sept. It still has not reached my account.

VFEM had a dividend payable on the same date. It arrived in my iWeb account on 1 Oct.

Vanguard is not doing well here!

The VEVE dividend has now reached my Vanguard account. I am not impressed. They have paid dividends more promptly in the past (though not as promptly as I would like). They clearly have had big problems with their IT. They massively overrun their deadline for getting their system live. The same thing happened again with the SIPP. The website still has small issues. I reported several recently. Some people are paying £375 p.a. for this service.

My VWRL divi has been finally paid today - well past its 'pay date'.

My iWeb and iii divis for for the same were paid on 1st & 4th Oct respectively, so i don't know what Vanguard have been up to.

I don't think i totally agree with their email reply about it (except the 10 day regs bit) but at least now it's been paid:

We will always attempt to release our fund distributions in a timely manner. However, there could be circumstances where the distributions we receive differ from what we are expecting. Therefore, Vanguard will always investigate the distributions we receive before releasing them to the underlying investors, to ensure that the distribution figures are accurate and are not subject to amendment at a later date. Regulations allow us up to 10 business days to allocate a distribution, but Vanguard will always look to allocate a distribution as soon as possible after these checks have taken place.

My contract notes say that Vanguard's ETF trades are executed by Winterfloods. The shares are clearly held on a third party platform. There appears to have been a discrepancy between Vanguard's view of the number of shares held, when the shares went xd, and the platform's view. It appears to have taken two weeks for the problem to be resolved, or for Vanguard to just pay the dividends that they believe are due. This will not be reassuring to anyone who lays awake at night worrying about funds security.

As far as the customer is concerned, he is holding Vanguard funds with Vanguard. If there is a problem he will blame Vanguard and no one else.

My reinvestment will not execute until tomorrow. The price today is less it was two weeks ago, and my dividend was only about £600. I do not expect that much damage will be done been done by the delay. Indeed, it could work out in my favour.

GeoffF100 wrote:My contract notes say that Vanguard's ETF trades are executed by Winterfloods. The shares are clearly held on a third party platform. There appears to have been a discrepancy between Vanguard's view of the number of shares held, when the shares went xd, and the platform's view. It appears to have taken two weeks for the problem to be resolved, or for Vanguard to just pay the dividends that they believe are due.

Other Brokers seem to cope and distribute on time. They may all face similar problems with trades taking place shortly before entitlement dates, assuming that to be the problem. Otherwise if the holdings at the custodian don't match up with their internal records, they need to tighten their reconciliation procedures.