Posting of dividends in brokerage account

[lowflyer]

I’m wondering what others experience regarding the posting of dividends to brokerage accounts. Maybe I’m confused, but it seems that in the past, dividends were posted to accounts on the actual payable date. So if a dividend has a payable date of September 30, then the dividend would show up in the account on September 30th and be available for taking, reinvesting, etc. Recently, dividends are posted to the account the following day. So if the payable date is September 30th, the dividends do not show up in the account until overnight the following day. This has been the consistent procedure for a few quarters now. What is your experience?

 

[REWahoo]

My experience is the dividends are available the following day, not on the payable date.

 

[Lakedog]

My experience (with TD Ameritrade) is that cash divs are posted on the payable date but reinvested divs do not show up until the following day.

 

[CyclingInvestor]

My dividends are posted at the end of the payable date, so for all practical purposes they are not available until the next day.

 

[ER Man]

Its probably pending till the next day to be posted.

 

[lowflyer]

That all makes sense. In going over this with my brokerage company, the conclusion was that when they receive dividends for an account, they are "batched" that day and posted overnight. Although there was some confusion in getting an answer to this, one conclusion was that they would theoretically be available for reinvestment on the payable date, which would jive with ER Man's comment about them being "pending".

Thanks for the replies.