Phoenix Share Discussion Threads

[sogoesit] 13/10/2017 15:22

Yes, oops I edited a part saying "the only letter saying I'm dead I would want to receive would be from HMRC"!
(Apologies, I should stop editing from my phone)

[solarno lopez] 13/10/2017 15:20

whilst still drawing your pension and spending it !

[sogoesit] 13/10/2017 15:16

If you get a letter saying you're dead from an insurance company wouldn't that involve a payout to you?
Wouldn't that be good news ;-)?

[speedsgh] 12/10/2017 08:30

Untimely communications! Seems like office admin needs tightening up at Phoenix :o)

Abergele pensioner gets letter from insurance company telling him he's dead! -

Second pensioner reports receiving insurance letter on her 'death' -

SunLife Limited and AXA Wealth Limited are both part of the Phoenix Group.

[jonwig] 10/10/2017 09:41

OK, thanks - I've never used them.

[woodhawk] 10/10/2017 09:28

No, they have regular share dealing accounts too - I have a regular sharedealing account plus ISA and SIPP share accounts with them. I usually find them very good - the only slight drawback being that they're not too swift in paying dividends(though I usually find it is within, say, 3 days of the actual payment date).

[jonwig] 10/10/2017 09:07

Woodhawk - isn't IG Index for spreadbetting and CFDs? If CFDs is how you hold the stock, getting the dividend won't be a straightforward process for them I'd have thought. Or have you had prompt payment in the past?

[woodhawk] 10/10/2017 08:53

Well, well, IG Index finally deigned to pay my PHNX dividends 8 days late.

[lauders] 07/10/2017 01:29

Woodhawk - I am also having dividend payment issues and my dividend STILL hasn't been credited to my account. However, my shares are held in a portfolio linked to my QROPS savings (pension) and is managed by a "brand" name that I will not mention. I have sent a message to those responsible and made an official complaint about their "service". If I could change them I would in an instant! Not so easy :-(

[joan of arc] 06/10/2017 14:34

IG are always 3 or 4 days behind. They should tighten that up.

[arf dysg] 06/10/2017 13:58

My phoenix dividend, due on the 2nd of October, arrived on time on the 2nd of October.

Three ETFs by iShares have always been late.

Ticker ; announced payment due date ; payment actually received date

DJMC 30th_Jun 3rd_Jul (Eurozone companies)
MIDD 30th_Jun 3rd_Jul (FTSE 250)
ISP6 31st_Jul 1st_Aug (USA Standard & Poor index: 600 smaller companies)
DJMC 29th_Sep 2nd_Oct
MIDD 29th_Sep 2nd_Oct

All other dividends have been received on time. Payment has been late for only the iShares ETFs. I have a selftrade ISA and a selftrade dealing account.

[schofip] 06/10/2017 13:42

If IG was my broker and behaved like that I would be using the past tense to refer to them.

[spittingbarrel] 06/10/2017 09:16

Idealing paid on time.

[rcturner2] 06/10/2017 08:18

TD Direct paid me on the 2nd October.

[garycook] 06/10/2017 04:23

Paid by HL has always on payment day.

[schofip] 05/10/2017 22:01

I was paid by both Selftrade and Youinvest on the correct day although Selftrade added them after the close.

[woodhawk] 05/10/2017 19:53

I'm not sure, grahamburn, but that is entirely possible - I did buy some of them about a week before the ex date. I wasn't aware that such a distinction existed
IG Index didn't mention this to me. But many thanks very much for the informed info - much appreciated! You live and learn!!

[grahamburn] 05/10/2017 19:47

Did you buy the shares just a few days before the ex-date, Woodhawk? The response sounds like the dividend had to be "claimed from the market" (ie the broker handling the transaction) rather than coming straight from the company's registrars.

Quite a normal/common procedure, if the answer to my question is "Yes".

[woodhawk] 05/10/2017 19:42

IG Index told me that they cannot pay as they don't have the funds from their broker and they have no idea when it will be resolved. Appalling attitude - I am awaiting further information.

Here's a quote from an IG Index email to me today: "our broker have not received the funds for this dividend from the market as yet. We aim to credit within 3 working days of the dividend pay date. however in this instance we must await to receive the full balance from our broker" and "I do not have a time frame for when this is resolved, we are in constant contact with our counter party in order to get this matter resolved as soon as possible."

It seems like there is some issue with the third party which IG Index are not revealing?????

I was paid by the Halifax on the correct payment date.

[latics2] 05/10/2017 19:27

Not spoken to IG but like yourself I have not been paid yet.My divi from SGC was paid on time however.

[woodhawk] 05/10/2017 18:45

NON PAYTMENT OF DIVIDENDS

I have not received my dividends in respect of my Pheonix holding from IG Index. They have just advised me that they cannot pay my dividends as their broker has not paid them. They say they cannot give me a time-frame for when they might be paid!!

This sounds preposterous to me - has anyone else had the same problem?

[johnroger] 01/10/2017 18:29

Pay day tomorrow

[essentialinvestor] 08/9/2017 13:53

The FCA now appears run in a way that would make diehard socialists blush!.
As a Lloyd's shareholder I may be a tad biased in that view ).

[hyden] 08/9/2017 12:41

Sorry speeds, I disagree. PHNX probably has the financial flexibility to manage, say a £500m acquisition without recourse to other sources of funding. The problem is that as the shareprice declines then this makes acquisitions more expensive through the dilutive effect (discount to MCEV) which in turn means PHNX are priced out of the market by competitors. I think that until the shareprice recovers then any acquisitions will be small, at best.

[speedsgh] 08/9/2017 12:22

Huden - "without further acquisitions...". I think PHNX have made it fairly obvious that further acquisitions are pretty much nailed on. Main question is how large & when? Aimho