Well see even if the shares lies in brokers account, the shares are mapped to the trading account, and you can see them from the backoffice. Any corporate benefits such as dividend will first get transferred to the brokers account and then the broker will transfer it to the ledger of the client. Unlike in case of shares lying in client's Demat where bonus directly goes to the bank account, in this case the broker will transfer the dividend amount to the client's ledger.
I also had some HUL shares with achiievers and I was unaware of the dividend issue by the company, but I got the dividend amount added to the ledger.
I also had some HUL shares with achiievers and I was unaware of the dividend issue by the company, but I got the dividend amount added to the ledger.
Thanks Soft Trader for clarification.
That's what I was assuming because company can't credit you dividend unless shares are in your named demat a/c
Need to be alert when dividend is due because there are many brokers who don't bother to credit dividend into your ledger unless you ask them to do so.
Nice to hear that achiievers does credit into ledger automatically
That's what I was assuming because company can't credit you dividend unless shares are in your named demat a/c
Need to be alert when dividend is due because there are many brokers who don't bother to credit dividend into your ledger unless you ask them to do so.
Nice to hear that achiievers does credit into ledger automatically
This is not good.
There is scope for mal-practice by 2nd rate brokers.
In my opinion even if the shares are pledged for margin, the dividend must go directly to the BO's bank account linked to the demat account similar to non-pledged shares.
Enjoy,
CArnot
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