Wednesday, 20 May 2015

Dividend Pipeline!

OK so dividends then.
Obviously I monitor them as month by month receipts into my portfolio but, I'm still running with this idea of monitoring the pipeline so thought I should start by seeing exactly whats in the pipeline.

As briefly referenced, in theory having gone ex dividend, a chunk of a company's capital has been sliced off its share price equivalent to the dividend, therefore trading ex. dividend, but until the dividend is actually paid out, it isn't in either the company's share price, or the shareholders account.

So looking at my portfolio, this is the current window


Dps Ex Div. Paid
GE 12.72p 19-Feb 27-Apr
BAT 100.60p 19-Mar 07-May
Aviva 12.25p 08-Apr 15-May
Verizon Comm. 30.79p 08-Apr 01-May
Banco Santander 8.70p 14-Apr 04-May
BAE 12.30p 16-Apr 01-Jun
Barratt Dev. 4.80p 23-Apr 22-May
Rolls-Royce 14.10p 23-Apr 01-Jul
Centrica 8.40p 30-Apr 25-Jun
William Hill 8.20p 30-Apr 05-Jun
Apple 27.90p 07-May 14-May
BP $0.10 est. 07-May 19-Jun
Microsoft $0.31 est. 19-May 11-Jun
Imperial Tob. 21.40p 28-May 30-Jun
National Grid 27.54p est 04-Jun
Vodafone 7.62p 11-Jun 05-Aug


National Grid is based on last year's, as it hasn't yet been declared as results aren't due to be announced until the 21 May.
BP's currently shows in USD, as does Microsoft so they are subject to the exchange rate. The latter also being subject to US withholding tax.

Interesting to see how long some companies take to make the actual payment after the XD date.
Apple has been exceptionally quick, but most seem to be spanning a month, although BAE seem to be around 6 weeks, Vodafone 8 weeks, and (just noticed), Rolls-Royce on 9 weeks!).
But this doesn't show how close the XD date is to the results announcement or even the link to the company's year-end.

Its just an interesting question as to whether delays or lengthy timescales for year-end to results to XD to payment, are used to the advantage of companies and their cashflow?

But that's a tangent, and the goal here is to see the pipeline of dividends, and if needed, to understand how much "cash" is due but not yet in my portfolio, a hidden value.

In this case, BAT, Aviva, Verizon, Banco, and Apple have paid out and it should be in my account.
But Barratt, BAE, Rolls-Royce, Centrica, William Hill, BP and Microsoft are all trading with XD share prices, affecting my portfolio, but I'm not yet looking at the complete picture as the dividends have not yet been paid to complete the circle.

If nothing else it shows me that the wheels are still turning as we move into the middle third of the year.


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