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BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 9:43 am
by zx14rr
British Petroleum (BP-ADRs) paid a dividend on Thursday 3/29/2018, which should have posted in the Vanguard brokerage account on Friday (market holiday on Friday doesn't matter if settlement date was 3/29/18).

I was wondering if any of you received the BP dividend in your brokerage account, as I was told by Vanguard that the BP dividend payment was not received by Vanguard?

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 9:59 am
by tacticalretreat
Mine has not hit yet either. It usually takes a couple days.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:13 am
by iowaboy46
i received mine with a posting date of 4/2. i assumed because of Friday being Good Friday.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:23 am
by zx14rr
Iowaboy 46, thank you for your response. Frankly, it was hard for me to believe the response I received from Vanguard that the dividend payment from BP PLC was not received and therefore no Vanguard brokerage account holder received the dividend. I had spoken with the BP ADR sponsoring bank, JPMorgan, and they claimed the dividend was paid on 3/29/2018.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:39 am
by dbr
zx14rr wrote: Mon Apr 02, 2018 10:23 am Iowaboy 46, thank you for your response. Frankly, it was hard for me to believe the response I received from Vanguard that the dividend payment from BP PLC was not received and therefore no Vanguard brokerage account holder received the dividend. I had spoken with the BP ADR sponsoring bank, JPMorgan, and they claimed the dividend was paid on 3/29/2018.
It is entirely possible BP paid the dividend as stated and someone at Vanguard does not see it on the books the next day which was a holiday. Using the language "was not received" is probably misleading. Maybe "It has been paid and will be on the books on Monday." would have done better.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:50 am
by zx14rr
DBR, thanks for the thought, but why would some (Iowaboy46) Vanguard brokerage account holders receive the BP dividend and some not if the dividend wasn't on Vanguard's books. Dividends that were payable on Friday (3/30/18), e.g., BAC, were posted by Vanguard on Friday despite the market holiday on Friday.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:53 am
by dbr
zx14rr wrote: Mon Apr 02, 2018 10:50 am DBR, thanks for the thought, but why would some (Iowaboy46) Vanguard brokerage account holders receive the BP dividend and some not if the dividend wasn't on Vanguard's books. Dividends that were payable on Friday (3/30/18), e.g., BAC, were posted by Vanguard on Friday despite the market holiday on Friday.
Well, if you know that some account holders got different posting than others then I sure don't know why.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 10:54 am
by oldhobo
Interesting that some have received it, I have not received my BP PLC dividend as of 11:54 EST 4/2

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 11:07 am
by anonsdca
I have Schwab and it is not posted yet either. I am attributing that to Easter weekend. If I don't see it tomorrow, I will make some calls.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 11:09 am
by xenial
I don't have experience with individual stocks, but I do hold bonds and CDs in a Vanguard brokerage account, and interest payments are often a little late. Just give it an extra day or two, and I bet you get your dividend. Sometimes when a CD matures, I receive the principal and the final coupon on different days! Vanguard works in mysterious ways.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 12:22 pm
by iowaboy46
I should have clarified. i use Fidelity.

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 8:50 pm
by ralph124cf
My Schwab account shows that the BP dividend was received 3/29/2018.

Ralph

Re: BP PLC Dividend Vanguard Brokerage Account

Posted: Mon Apr 02, 2018 8:58 pm
by livesoft
There is a thread "Case Study: Broker speed of dividend payments

Guess what? Brokers do things differently.