Dividend payments to client Wrap accounts

Many ASX listed companies pay dividends twice each year, usually as an 'interim' dividend and a 'final' dividend. Dividend frequency is determined by the issuer, so this is not able to be changed.

Dividends are generally paid by the share registry on the dividend payment date as announced by the ASX, however will only be credited to your client’s Wrap account once the amounts and necessary information have been received by us as follows:

• Wrap Investments accounts – generally one business banking day after the dividend payment date

• Wrap Superannuation/Pension accounts – generally two to three business banking days after the dividend payment date due to additional reconciliation processes to correctly reconcile dividend payments to the underlying member’s account.

Delays may arise from time to time where:

• the dividend amount we’ve received from the registry doesn’t match the expected amount
• the necessary information hasn’t been supplied to accompany the amount we’ve received
• a payment has been withheld due to the account being closed or
• the bank details are not on file with the registry.

You can check the Income Details – Accrual basis report to see outstanding dividends which have been announced but have not yet been paid/allocated to your client's account.