BOI Final Dividend Stock Alternative Option

Thanks Dr.

For the interim dividend I took the additional shares but I would have thought the options would be put to me again for the final dividend. Will contact brokers as you say.
 
Bank of Ireland has just announced that they will only be paying a cash dividend this time as the share price has fallen so much.

Good decision by them.

Future dividends will be cash or shares as before.

Brendan
 
I see that the option has now been withddrawn.I have been buying shares in BOI every month since Jan.Can someone tell me on what date they pay they pay dividends?
 
To find info on BoI dividends, I looked at the BoI website: www.boi.ie

I saw a section on Investor Relations, at: [broken link removed]

In this section, I saw a link to Financial Calendar: Dividends, at:

[broken link removed]

which gave me the following info:

Ordinary Stock
15 Jan 2008 Dividend Payable On or After
28 May 2008 Stock goes Ex-Dividend on Irish Stock Exchange
30 May 2008 Record Date
23 Jul 2008 Dividend Payable on or after
19 Nov 2008 Stock goes Ex-Dividend on Irish Stock Exchange
21 Nov 2008 Record Date
13 Jan 2009 Dividend Payable on or after
 
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I own BoI shares, and hold them in an NIB online custody account.

I usually choose to receive the divs in the form of shares, not cash.

I received a note from NIB today, with the following details:

Gross div = 39.4c
Net div = 31.52c

I have 179 shares on 28 May 2008, and so my total net div = EUR 56.42.

If I go for shares, I may get 8 new shares, plusa fraction to be rec'd in cash. They mention a share price of 6.37 on 20th June 2008.

This seems like an ok deal.

It appears that I am not being offered shares at 8.10 each, as mentioned above.

So I am not in the scrip offer????
 
I also have an online account with NIB. The letter I received talks about an allocation ratio of 20.558375 shares for 1. Given that the net dividend is 31.52 cent does this not imply an expected price of €6.48?

Also, I always assumed that these dividend reinvestment shares were purchased on the market (or from treasury) at the market price on the payment date - in this case the market price on July 23rd next?

Is this not the case?

Cheers, San Martino.
 
It depends on the individual DRIP scheme, but off the top of my head I think the share price offered tends to approximate to the average price over the six months preceding the entitlement date — or something along those lines (I haven't the documentation to hand).

I'm intrigued by the details of the NIB system, which must be of their own devising rather than an official BoI DRIP plan per se?
 
Yes, DrM, I also thought that the NIB scheme was their own scheme.

Yet when I rang them today, they said no shares as div, just cash, as per the announcement. I'm a bit confused.
 
Interesting issue.... I got BOI shares via NIB & the share reinvestment plan last January 15th - they were allocated at €9.28, which appears reasonable compared to the closing market price of €9.43 (I'm not sure what the volatility was during the day).

Up until now I would have always reinvested dividends where that option was available, but in future I'll be checking the rules of each DRIP

Thanks for the info,

San Martino
 
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