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  • 3 Post By Kowloon72
  • 1 Post By nivantj
  • 1 Post By bbchris
  • 1 Post By GentleGeorge
  • 1 Post By Jamthe

HSBC cheeky bas**eds with dividends?!

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  1. #1

    Join Date
    Feb 2019
    Posts
    643

    HSBC cheeky bas**eds with dividends?!

    I have the same number of 3140 shares with HSBC and with IB.

    Divi paid out on the 13th, IB says it is 0.06 per share, and sure enough I'm getting around 60 HKD per thousand shares.

    Cheeky HSBC only seem to have paid out half the amount. What is going on?

    Seems pretty clear-cut to me, ditch HSBC positions and move to IB. Any counter-arguments from the experienced hands on the forum?


  2. #2

    Join Date
    May 2019
    Posts
    523

    HSBC charge a handling fee of 30 hkd on dividends (it's a % of the divi, 30 hkd minimum). If by chance you have exactly 1000 shares with each hsbc and ib, it would explain why the dividend appears to be halved. However, I'm assuming you have more based on how you've worded the OP, in which case I've no idea why the deductions have been so severe. I'd call your RM.


  3. #3

    Join Date
    Jul 2004
    Posts
    3,701

    First check e-Advice in your e-banking account to see dividend distribution and fees charged..

    shri likes this.

  4. #4

    Join Date
    May 2005
    Location
    Hong Kong Island
    Posts
    318

    I thought HSBC wasn't paying dividends due to Covid-19?

    GentleGeorge likes this.

  5. #5

    Join Date
    Feb 2014
    Posts
    693
    Quote Originally Posted by bbchris:
    I thought HSBC wasn't paying dividends due to Covid-19?
    They aren't... OP is talking about dividends for 3140

  6. #6

    Join Date
    May 2005
    Location
    Hong Kong Island
    Posts
    318

    ah! I missed that! Thanks!


  7. #7

    Join Date
    Feb 2019
    Posts
    643
    Quote Originally Posted by Kowloon72:
    If by chance you have exactly 1000 shares with each hsbc and ib, it would explain why the dividend appears to be halved.
    Exactly 1000 each, so that explains it, thanks.
    Kowloon72 likes this.

  8. #8

    Join Date
    Feb 2019
    Posts
    643

    Any good reasons NOT to ditch HSBC and put everything on IB? Trading costs, dividend accruals etc much, much more transparent.


  9. #9

    Join Date
    Jul 2018
    Posts
    21

    Some people would say that IB has greater Credit Risk then a traditional bank like HSBC. This all depends on your risk tolerance and do you believe you will witness a black swan event which would take out IB (and not HSBC).

    Kowloon72 likes this.