Somero Enterprise Share Discussion Threads

[ben12358] 09/4/2016 11:15

Hi

I think it is more of a reflection on Barclays systems than anything else, because they would have to convert usd dividends on a same day basis.

[capercaillie] 09/4/2016 11:08

I have looking into this as a prospect. On speaking to Barclays I was told they cannot be held within an ISA. Has anybody else experience of this?

[grahamburn] 08/4/2016 19:39

TD Investing say +/- 1.5% over and above the live exchange rate at the time the transaction (ie dividend) is received. Suppose that rate could indeed vary minute by minute. Of course, with the standard 15% withholding tax (assuming the W8BEN has been completed and filed) that means the yield as per advfn Financials page is slightly misleading (eg by 15%). But still a yield not to be sneezed at!

And yes, you cannot hold foreign exchange in an ISA which is why the broker has to convert it "in real time".

[3800] 08/4/2016 19:01

Hi all again, yes I did fill in a W8BEN and hold them in an ISA, to be honest I wouldn't be surprised if all the dividends differ a little (but not as much as WirralOwl's) as the different brokers will I suppose charge differing amounts for currency conversion. I have been told in the past that it's against the rules to hold foriegn currency in an ISA so I expect everyone holding in an ISA will some charges built in.
3800

[le4r] 08/4/2016 18:59

Interesting. Will report back what I hear - along those lines or otherwise. Good weekend all

[wirralowl] 08/4/2016 15:10

Thanks battlebus2 & LE4R for your input.

I've put the question to IG's Corporate Actions, who to be fair have been first class since I've been using them, but suspect it might be the case in this instance, battlebus.

[battlebus2] 08/4/2016 15:07

It takes time to process a wben so you may have lost this years reduced tax, it's happened me in stocks where it can take 3 months and you have no recourse i'm afraid..

[le4r] 08/4/2016 15:05

Hi both. I received about the same figure as 3800 with HL (also have W8BEN completed). Have emailed them asked that they clarify the position though. Will let you know their response.

[wirralowl] 08/4/2016 12:25

Hi 3800,

Thanks for your reply. Looks like you have had withholding tax applied too, but tdw have claimed back half for you at the outset, under the double taxation agreement (presumably you also filled out a W-8BEN ?).

I hold mine with IG and only received 2.453p, so they've applied the full 30% taxation against my holding. I've also filled out a W-8BEN and do hold in an ISA, so time will tell if IG claim back the 15% for me at a later date...

[3800] 08/4/2016 11:52

Hi wirral owl I got paid 2.94286p per share in dividend (td waterhouse). How much did you get?

[wirralowl] 08/4/2016 09:07

Just received my first dividend payment from Somero, having bought in to the company last November, and was surprised to be charged a 30% withholding tax. Is this correct? I thought this tax was applied only for US listed companies, not US companies listed in the UK?

My shares are held in an ISA and I was asked me to fill a W-8BEN form before I could buy these, so perhaps the broker will be able to claim part of the tax back on my behalf at a later date?

Thanks in advance for any input.

[breaktwister] 07/4/2016 22:09

Correct me if I'm wrong but the weakening dollar will help Somero with its exports, basically its products become cheaper to purchase for non US based customers which should increase exports?

[rivaldo] 07/4/2016 09:43

Maybe SOM are just giving their new facilities a bit of a PR push - I got this as a news alert. It's also possible that the new facility had previously been completed in terms of build-out, but has become "fully operational" having been kitted out.

[discodave4] 06/4/2016 20:28

rivaldo,Wasnt that completed ages ago?:"In October 2015, we completed our 20,000 square-foot expansion of our Operations and Support Offices in Houghton, Michigan, for a total project cost of US$ 1.3m. The expansion provides us with a facility that is able to support growth up to and exceeding our 2018 strategic objective."DD

[twonky] 06/4/2016 16:23

I like the approach from Somero to look after the customer, especially with training etc. It will give them the USP they need for the future.

I really like this company and have taken a small holding.

[rivaldo] 06/4/2016 10:12

Good news:



"Somero Enterprises® Houghton, Michigan Operations and Support Offices 20,000 sq. ft. Addition is Complete!

Somero Enterprises® Inc. is pleased to announce that the 20,000 sq. ft. addition to our already 52,000 sq. ft Operations and Support Facility is complete and fully operational!

What this means for our customers and future business partners is, the expansion will allow us to continue giving our customers benefits that is expected from Somero such as:

•Increased Efficiency
•Enhanced Product Flow
•Larger Testing Area
•Enhanced Customer Experience

We are very happy to provide our customers the total Somero Process beginning in Houghton, Michigan."

[rivaldo] 04/4/2016 11:18

Extremely informative and encouraging interview Paul, many thanks.

[twonky] 03/4/2016 14:32

Thanks Paul, very helpful.

[owenski] 31/3/2016 07:28

Thanks for that Paul, enjoyed the interview

[rivaldo] 31/3/2016 07:24

Now this is better - another £60,000 of director buys just announced, including £26,000 from the CFO....



Many thanks Paul, will look later. As you say, must take a looong time to type up and edit!

[paulypilot] 31/3/2016 01:35

I've just published the transcript of my interview with SOM Directors back in Jan 2016.
Took me a while to edit the transcript, but hopefully people will find it interesting to recap on this;



Really straightforward answers. They're one of my favourite management teams.

Regards, Paul.

[grahamburn] 30/3/2016 08:16

Many thanks, grabster.

After your first response, I did actually guess that might be your response, so I sent a message last night to my ISA broker (TD Direct) asking them what their policy was in this regard. Let's see what they say.

[grabster] 30/3/2016 08:04

graham - my broker(iDealing.com) normally shows one list of my ISA holdings including any ISA cash balance, and below that another list for my non-ISA holdings and non-ISA cash balance. But a third list appeared below that, showing a further cash balance in dollars and labelled 'Non-UK holdings' or somesuch, which I queried. They said I coud withdraw it in dollars if I wanted, or they could translate to sterling at a time of my choosing, so I merely left instruction to do that when exchange rate was better than a specified level, which they did. On that occasion there was no fee for doing so, but I am not sure if there normally is.

[rivaldo] 30/3/2016 07:37

Nice to see a bit of director buying, even if the amounts are a bit piddly! At least one of them is the CFO, who are normally the lowest paid directors and don't spend their hard-earned so easily....

[grahamburn] 29/3/2016 20:28

Thanks for that info.

So, how did you - or your broker - deal with it?

PS Don't know why I said the dividend was due this Friday - I always knew it was Monday.