Author Topic: Questrade Distribution/Dividend Errors ?  (Read 1086 times)

AJDZee

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Questrade Distribution/Dividend Errors ?
« on: August 06, 2014, 08:03:38 AM »
Anyone else with Questrade as their brokerage notice anything odd when it comes to the dividends/distributions being paid out? It's like they have errors in system that aren't handling passing on certain divdiends correctly.

Recent example:

I bought my first REIT a few months ago and noticed in July my first dividend/distribution was as follows:
7/17/2014:  -$14.63
7/17/2014:   $2.93
7/17/2014:   $14.63

Making the overall dividend $2.93 which isn't right - it's like they distributed withholding tax and withheld everything else. (It's a Canadian REIT in my TFSA)

After talking to Questrade's customer service he said it was 'strange' and would initiate an investigation and have a response within 48 hours. A week later I contacted them again for an update... said they'd send me an email that night... which was a week ago with no response.
However I did notice another transaction in my account...

7/31/2014: $14.63

Anyone else have the same thing? Is this normal for a REIT distributions? I've had other 'suspicious' transactions with dividends in the past.

daverobev

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Re: Questrade Distribution/Dividend Errors ?
« Reply #1 on: August 06, 2014, 10:02:49 AM »
Mm, in the past, nothing odd recently.

I would guess this stuff gets fixed eventually regardless, they can't just absorb client money...