BP PLC Dividend Vanguard Brokerage Account

[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?

[tacticalretreat]

Mine has not hit yet either. It usually takes a couple days.

[iowaboy46]

i received mine with a posting date of 4/2. i assumed because of Friday being Good Friday.

[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.

[dbr]

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.

[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.

[dbr]

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.

[oldhobo]

Interesting that some have received it, I have not received my BP PLC dividend as of 11:54 EST 4/2

[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.

[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.

[iowaboy46]

I should have clarified. i use Fidelity.

[ralph124cf]

My Schwab account shows that the BP dividend was received 3/29/2018.

Ralph

[livesoft]

There is a thread "Case Study: Broker speed of dividend payments

Guess what? Brokers do things differently.