Dividend not received after account transfer to Fidelity
Summary of User’s Issue and Solutions Discussed:
- The main problem reported by the user is that their son’s dividend payment for Avista shares, due on 3/15/2023, is not showing up in his Fidelity account after transferring from Vanguard.
- Fidelity explained that the timing of the Transfer of Assets (TOA) likely resulted in the dividend being paid out at Vanguard instead.
- Fidelity recommended that the user check Vanguard’s account or contact them to confirm the dividend payment.
- The user was advised to have their son wait a bit for the situation to resolve itself, as residual credits are automatically sent to Fidelity per NYSE Rule 412.
Here’s the full thread
My son had transfered his account from Vangaurd to Fidelity account. He has shares in Avista that were due to pay a dividend on 3/15/2023 and it does not show up on his account. The transfer to Fidelity shows as complete on 03/02/2023. Does it take longer to confirm the long term Avista shares in his account as it was transfered between the ex and paid dates? I also had some shares in Avista in my FIdelity account and mine were paid out yesterday.
Great question and we’re happy to hear that your son chose us for his investing needs! This isn’t uncommon and due to the timing of the Transfer of Assets (TOA), the dividend most likely paid out at the external firm. No worries though because the delivering firm automatically sends residual credits to us per NYSE Rule 412. That said, we recommend that your son checks his account at Vanguard or gives them a call to double-check the dividend payment. 🟢
Thanks for the responce, ill have him check and just have him wait a bit. Thanks..