I have received dividend for TCS. However, the dividend was credited into my Zerodha account instead of the linked bank account. Please see the below ledger entry.
01/07/2017 EQ Being dividend paid for shares TCS
Is this a normal practice or some info is missing in my account due to which it was not credited in my bank account ?
Also, I do not check the ledger regularly. If credit of dividend to zerodha is normal practice, can there be some intimation. I have not received any mail from TCS or Zerodha regarding the dividend credit. For my ICICI Direct account, it gets deposited in my bank account and I also receive email/letter notification from the company issuing the dividend.
Zerodha will receive dividends on your behalf If you’ve pledged stock with Zerodha for F&O margins or have sold the stock on Ex-date because of which Zerodha would have debited your stock and moved it to it’s pool account. In such cases, since the stock as on the Record date is in Zerodha’s demat the registrar would credit the dividend to Zerodha. Such dividends are reconciled periodically and credited to your trading account, which you’re free to withdraw as per your convenience.
What if client sells the pledged shares on or after ex dividend rate - dividend will still come to broker’s account first or it will go to client’s bank account @VenuMadhav@ShubhS9@siva