I purchased several shares of ING stock on 4/22/08 and have yet to see a dividend payment in my account...why?

Question

Brokerage: Sharebuilder

Answer 1

Well, I hate to tell you this, but had you purchased the stock a few days earlier, you would have been entitled a dividend of 1.25, paid out on May 13.  The record date was listed as April 23.  To be eligible for the dividend, you would have to have placed the buy order no later than the end of the day on April 18.  The reason being is that the stock has to be held in your account and the trade has to be settled on the day of the record date.  It takes three business days for the trade to settle.  By purchasing on the 22nd, the settlement date was the April 25(past the record date).  I found this information at www.adr.com, I entered the ticker ING and choose the "ADR details" item which gives a history of the dividend payments.  They haven't announced the next one looks like, but as long as you are holding settled shares on the date of record, you should get the dividend.

Answer 2

There is no dividend because the company has not said they will begin issuing any dividends.

I am not a fan of Sharebuilder at all. Too costly.