Martin Lee @ Sg
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Wrong Amount of Dividends Received

Usually, crediting of dividends is done automatically for all the shares we hold via the CDP.

However, if you own any shares or equivalent derivative positions via secondary parties like CFD providers, you should check your positions carefully to make sure you get the correct dividends you are entitled to.

A few weeks ago, I had an open long position with one of the CFD providers in Singapore for a particular SGX listed stock. This stock is traded in S$ but gives out dividends in US$. As I still had the position when it went xd, I was supposed to receive dividends amounting to US$540 for the shares I own.

Instead, I was credited with S$540. This is a difference of almost S$270, which could have been lost if I had not checked my statements. 

Luckily, I do have a habit of checking all my financial statements thoroughly, so I managed to detect the error and highlighted the matter accordingly.

I wonder if I had not found the mistake, how much would investors have “lost” collectively as a result of that honest mistake.

The moral of the story is not to leave anything to chance. Knowing how much dividends you are supposed to receive for all the stocks you own is a good start.

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1 comment
Dividends Anonymous says 11 years ago

Good eye on that one. Makes me wonder if I need to start double checking a little more thoroughly when I receive my payments!

I log all my dividends by amount in a monthly spreadsheet. That way I know how much I should have in my account each month and when to expect them on specific days.

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