Diversified Energy Share Discussion Threads

[cassini] 31/3/2023 12:33

Mystery solved regarding my 'missing' ii DEC dividend, I figured it out before sending ii a message thankfully.

I somehow have ended up being paid my DEC divis in £GBP in my ISA but in $USD in my SIPP (I recall opting to be paid for DEC in $ in my SIPP, but my ISA DEC holding seems to have defaulted to £ divis automatically). The $ payments don't show up in the ii 'transaction history' tab (which defaults to £) unless I select '$' so I missed them!

Being paid in $ (at least, in my SIPP) does mean I get the exact divi amount with no ii random Forex rate applied for me, but I still have to convert it to £ at some time via the ii Forex as I don't have a $ bank account.

PS: It may be that ISA holders cannot hold $, so are forced to receive divis in GBP. This does not apply in a SIPP.

[shanklin] 31/3/2023 11:45

P.S. Received a dividend for BSE today from ii. AU2c converted into GBP at an FX rate defined by BSE... ...not in this case converted by ii, so I ended up receiving exactly what I expected to the penny.

[shanklin] 31/3/2023 11:40

II did reply to my question/complaint. They said they were paid in USD (why or why did they do that?) and then applied that day's ii FX rate which IIRC was 0.80801.

[cassini] 31/3/2023 10:59

Ramellous,
Oh! Looks like I need to fire off a message to ii about this then... thanks.

[wolstencroft] 31/3/2023 10:56

me too; have you checked your USD balance as it is paid in USD in your SIPP but converted to GBP in the ISA?

[ramellous] 31/3/2023 10:04

Cassini, I received my divi in my ii sipp on the 28th.

[bluemango] 31/3/2023 09:22

Looking at exchange rates, after a relentless weakening of the dollar since Sept/Oct there are signs it could start strengthening again which would help make DEC more attractive to UK investors.

Not that we should need much encouragement with an approx 15% yield when held in a SIPP!

[marksp2011] 31/3/2023 08:38

Given two separate articles in the IC puffing this, I was expecting a strong start as it is cheap enough to tempt PIs.
Looks like I was wrong

[marksp2011] 30/3/2023 16:47

Question for those who watch this trade

It seems to start off stronger and then peeter out once the US opens. Are there US sellers?

[marksp2011] 30/3/2023 16:47

They have different tax treatment

[cassini] 30/3/2023 15:51

fred,

Thnx, obviously ii must handle divis in different accounts differently...

[fred177] 30/3/2023 15:46

I’ve got some in a company investment account with ii and not received yet have received in my IG personal account

[fred177] 30/3/2023 15:46

I’ve got some in a company investment account with ii and not received yet have received in my IG personal account

[cassini] 30/3/2023 15:43

Anyone with an ii SIPP out there who can tell me if their DEC divi has arrived yet?

The divi arrived in my ii ISA a few days ago but has not yet arrived in my SIPP (I hold some DEC in both accounts)

[renewed1] 30/3/2023 15:23

Prices later in the year and into next year seem ok and most of this year already sold

[scrwal] 30/3/2023 12:47

lab305
Unhedged producers may well feel the pinch but if they have been sensible they should have a shedload of cash to ride out the storm.

[johnhemming] 30/3/2023 07:02

I would have thought it is a relatively small amount of trading at the spot price.

[lab305] 30/3/2023 01:08

NATURAL GAS
1.991 -0.039 -1.92%
Unheddged gas producers will soon be on their knees at this rate. If the low prices continue for a few months the bargains will be plentiful and indeed it may be a transformational year for DEC as Rusty predicted. The only trouble is we seem to be tarred with the same brush so the pain of the low share price may last for a while.

[wllmherk] 29/3/2023 16:26

Halifax sent me a W-8BEN form which I completed and returned a few weeks ago, the dividend was still taxed at 30%. I hold DEC out with my ISA or SIPP. I've emailed them to ask why bother sending me the W-8BEN form and I still pay the full 30%. Still a good dividend though.

wllm :)

[owenski] 29/3/2023 13:44

Even with the ISA WHT these are seriously good dividends.

[cassini] 29/3/2023 13:43

scrwal,

I don't remember seeing that and I log in on a fairly regular basis. Hmmm...

[cassini] 29/3/2023 13:42

Farrugia,

I'm not going to bother as my ISA holding of DEC where I got charged the full 30% is quite small, but the only way to find out is to send a message to your broker and ask.

I wouldn't be too hopeful though... my message from ii this morning didn't suggest there was anything I could do about it retrospectively and they had approved my new W-8BEN by then...

Luckily, DEC pays out quarterly so if yours is in an ISA and you fill in a W-8BEN now, you and I have only lost 15%/4 = 3.75% of the full-year payout we were entitled to.

[scrwal] 29/3/2023 13:28

Cassini
It was actually an effing banner across my screen when I logged in - that's why I renewed it so quickly.
Glad it's sorted.

[farrugia] 29/3/2023 13:06

if your broker has already charged you the tax is it too late to fill the W-8BEN I wonder?

[cassini] 29/3/2023 12:41

scrwal,

I must have missed ii's badgering, I don't always diligently read my secure messages, duh! I could access a W-8BEN via the 'new form' button and it auto-filled it for me anyway.