Next "dividend" payment..

  • alandob
  • 12/10/08 31/05/09
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Posted: Tue, 12/06/2012 - 10:37

Hi everyone,

Does anyone know when we expect to get the next "dividend" payment..

Regards, Alan

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Not yet received 7th dividend (DCS)

  • ng
  • 11/10/08 31/12/20
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  • Fri, 22/06/2012 - 09:47

Just checked my bank and 7th dividend not received, but I guess it takes a bit longer for people who were registered with DCS. Anybody else received theirs?


7th Div

  • Afam
  • 02/02/09 28/05/13
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  • Fri, 22/06/2012 - 09:58

Received in bank around 15th June.- spent already!!!


Re dividends via DCS

  • anrigaut
  • 19/10/08 30/10/09
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  • Fri, 22/06/2012 - 10:14

Yes - it takes up to 2 weeks longer via the DCS.

See here: http://www.ksfiomdag.com/index.php?option=com_content&view=article&id=12...


Inefficient IoM

  • sambururob
  • 10/10/08 n/a (free)
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  • Sat, 23/06/2012 - 07:53

Previous DCS payments have been delayed by a week. Now it is two weeks. Any modern institution would have a computer set-up that was programed and should pay it within two minutes. But of course this is the IoM!! Deeply not impressed.


@sambururob

  • anrigaut
  • 19/10/08 30/10/09
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  • Sat, 23/06/2012 - 08:46

Just for the record, that is not true - there is no suggestion of the delay being any longer this time than previously.

As can be confirmed by reading the posts on the DCS site following each distribution, the stated aim has always been to make payments within (about) two weeks. In practice, payments have generally been made before the stated 'deadline' (though not - at least in my experience - within a week) and there's no reason to suppose this time will be any different. So hopefully sometime this coming week.


@Anrigaut

  • sambururob
  • 10/10/08 n/a (free)
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  • Tue, 26/06/2012 - 13:46

Now I am not going to fall out with old friends but......
Just for the record - Any modern institution would have a computer set-up that was programed and should pay it within two minutes. But of course this is the IoM!! Still deeply not impressed!
If Skandia Life have already made payments why haven't the DCS?


@sambururob

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Tue, 26/06/2012 - 15:53

For information:

Paying system 1 (direct via Liquidators & IOM Bank)

If a creditor has their claim directly with the liquidator then as soon as they (PwC) receive sufficient funds they are able to clarify the situation for each creditor and then make the payment via IOM Bank. I believe that all the Life companies are in this system. Another creditor in this system is the DCS (as a single creditor). The monies under this system are generally paid within a few days up to (my estimate) a week.

Paying system 2 (Via the DCS and IOM bank)

Firstly the DCS has to actually receive the funds from the liquidator - this ensures they know exactly how much they have received. They then need to verify each 'sub creditor' (ie you and me etc) who has made a claim via the DCS to validiate if they are 'approved' to receive a payment. They then raise the paperwork and authority. This is sent to the IOMT who are responsible for the final authorisation (it is their (IOMT) scheme after all). Following this authorisation it is then sent to IOM bank who then make the electronic transfers or send the cheques (whichever the 'sub creditor of the DCS has chosen).

This is the reason it takes slightly longer to receive monies via the DCS route.

To answer your question more directly, Skandia could receive their payment at the same time as the DCS does. I would guess that there are not as many Skandia 'sub creditors' as there are within the DCS (so less time needed to verify each sub creditor') and also Skandia may have more staff available to deal with a situation which is in their own hands


thanks Tricky D

  • sambururob
  • 10/10/08 n/a (free)
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  • Wed, 27/06/2012 - 04:01

Appreciate the time and effort for your explanation.
As long it gets here I will suppress my impatience.
Then you stress me out by mentioning that they are using an IoM bank - I put money in an IoM bank once and, you'll never believe this , but ..............
Have a good day :)


DCS payments received

  • anrigaut
  • 19/10/08 30/10/09
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  • Thu, 28/06/2012 - 09:35

My money from DCS in my bank account this morning - and for expected amount. Have received reports from others too.


7.8 p/£ on 15 June 2012

  • anrigaut
  • 19/10/08 30/10/09
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  • Tue, 12/06/2012 - 12:31

Just posted: 7.8 p/£ to be paid on 15 June.

http://www.kaupthingsingers.co.im/2012/june/12june2012/


7.8p/£dividend = 91.0% ovrall

  • Gordon 45
  • 22/10/08 n/a (free)
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  • Tue, 12/06/2012 - 13:21

Anrigaut,

Thanks for the brilliant news, I think we were all hoping to reach the 91.0% barrier.

I am doing other things at present but will get to my thoughts asap,

Gordon 45


As announced on 4th May:

  • anrigaut
  • 19/10/08 30/10/09
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  • Tue, 12/06/2012 - 12:17

As announced on 4th May:
It is anticipated that a 7th dividend of at least 7.6/£ will be paid "on or around 15 June 2012."

http://www.kaupthingsingers.co.im/2012/may/04may2012/

No further news as yet.


Next dividend

  • grapow
  • 20/10/08 31/05/09
  • unspecified
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  • Tue, 12/06/2012 - 11:43

According to my information next payment is due 15th June, 2012.