If you have purchased shares including the rights to a dividend payment and the shares are not delivered in time, it is possible to do a FLUB in order that the beneficial owner of such shares shall be paid the dividend. A FLUB (Directly translated from Norwegian: Move the basic data for dividend) is used by the account operator for investors in order to transfer data pertinent to the basis for dividend payment from one securities account to another. The transaction can only be done during the period determined for dividend corrections. In order to see the ISINs that are available for FLUB, just enter the VPS account number (and the ISIN number, if available) into our system and you will get the result immediately. Please note that the transaction can not be reversed, but the dividend can be transferred several times within the the given period determined for dividend corrections.
It is the account operator for the issuer, acting on behalf of the issuer, that determines the length of the FLUB period, but it must be minimum one day.
If the shares are not held in the correct account when calculations are done, and the FLUB has not been done, the dividend will be paid to the previous owner as well as the reported tax. Such a situation will require a demanding, manual process in order to correct the error and make a payment to the correct owner.