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Late on dividend paymentNow 1:22 PM, EDT. Just got off the phone with Fidelity. Me: I'm due a dividend today from SCCO, but it is not showing in my account. Why not? Fidelity: Let me look......oh yeah, the dividend is showing but it's on hold. Me: Why is it on hold? Fidelity: I'll check and get back to you. Fidelity with supervisor of dividend department also on phone: It's on hold because we have not received the cash from the transfer agent. We called and the transfer agent has not received the cash from SCCO, but expects it to arrive today in time for transfer in the next cycle, around 3:20 today. I've been scco for 10 years at Fidelity and every dividend appeared in my account before the open until today. Not Fidelity's fault. I don't expect them to credit me until they get cash from agent who will not transfer to Fidelity until received from scco. IMO, a terrible black eye to scco's administrative capability. |
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