Diversified Energy Share Discussion Threads

[carcosa] 14/6/2023 11:01

US natural gas futures rose above $2.3/MMBtu, extending a 3.8% gain in the previous week boosted by higher demand and lower supply. An anticipated heatwave from June 21-28 is likely to boost demand for gas to produce power for air conditioning. Additionally, the domestic output is falling from May's record level of 102.5 bcfd. On the other hand, gas flowing to U.S. LNG export plants dropped to a five-month low due to maintenance at several facilities, including Cheniere Energy Inc's LNG.A Sabine Pass in Louisiana.

hxxps://tradingeconomics.com/commodity/natural-gas

[aleman] 14/6/2023 09:57

Is the Norwegian outtage and threatened strikes that are pushing up gas prices in Europe starting to nudge US prices up again?

[aleman] 13/6/2023 14:56

Regained the 50-day average - even after the ex-dividend dip.

[laurence llewelyn binliner] 12/6/2023 15:26

Smart Investor can take up to 10 working days to pay out, it seems to be a lottery which, some land on the due day, and some do not.., the worst lag I have had this year was 7/8 days and that was a FTSE100 company..

I am advised that quite often they receive a cheque for the wrong total dividend amount, so they have to start again by sending it back and waiting for the correct amount to come in before they can re-distribute it to their individual account holders..

Yes, in the digital age some companies really do still write cheques and post them, due date 30th here for our next one.. :o)

[marksp2011] 12/6/2023 14:33

Guys,


Some platforms eg II pay the divi on the basis of their records and on the date it is supposed to be paid

Others eg AJB pay when the dividend is received from the registrar using the exchange rate on the date of receipt

It can make a difference

[1knocker] 12/6/2023 14:31

Thanks Gary. I might have a go.
It will be interesting [infuriating?] to see when the bloody dividend does arrive.

In my account 'income' record it will almost certainly be recorded as 'paid' on the dividend date, 2 June. I bet it is not credited in the accounts as received by me on that date! That 'receipt' date is nowhere disclosed in my account records. I am delayed in investing the money, and lose interest on the cash on the account, but after the dividend is (eventually) paid that ceases to be apparent in the account records.

There is no doubt that HL is a very different outfit, has a very different culture, since Peter Hargreaves ceased to call the shots.

[garycook] 12/6/2023 14:16

!knocker, Make a compliant with HL seeking compensation. Address it to FAO Amy Murray.

[1knocker] 12/6/2023 12:19

With HL one should probably be grateful to receive any dividend at all. I am still waiting for the 2 June dividend paid by Lancashire Holdings on shares held on an HL account.

HL told me it takes 'a few working days' for HL to receive an overseas dividend, and after that they need to calculate the exchange rate. I guess a messenger brings the cheque, carrying it on a cleft stick, and someone with an abacus does the calculation after he arrives and hands it over. I hope they move into the age of electronic transfers and computer calculations soon.

[garycook] 10/6/2023 10:54

Skinny, I believe HL have got it totally wrong regarding this issue. Someone from the Dividend Dept at HL told me in black and white that 30% was payable on my SIPP, because I reside in the Philippines. I will post the outcome when I receive it.

[skinny] 10/6/2023 09:05

Gary - a case of the right hand not communicating with the left - I'm with HL and have no such problem.

[garycook] 10/6/2023 03:17

Diversified Energy Company PLC Dividend Witholding Tax
Dear Sir/Madam I have been informed that the DEC dividend 30% withholding tax does not apply for a UK SIPP, and also the DEC holding is owned by HL being my Nominee. Can you explain why I am being deducted 30%, when it should be Nil in a UK Regulated Pension scheme. Me residing in the Philippines does not apply regarding the facts below. There is a bilateral tax treaty between tax jurisdictions. I have a UK tax residency, which clearly states on my Personal details and account settings as Residency tax status: Rest of UK rate taxpayer The country I happen to be sitting in is irrelevant. Physical location isn't even a question on the W8-BEN form. UK Tax resident and the dividend in a SIPP is recognized by UK Tax Authorities as a recognized pension scheme the withholding tax rate is zero. Regards Gary Cook

Received this from HL regarding the above complaint about the 30% Withholding tax being paid on in my SIPP. HL have been stalling since 24/04/2023.Threatened them with the FOS
Further to your concerns
Dear Mr Cook



I'm writing further to the complaint you raised with us recently.



A member of our Client Services team is reviewing your complaint. We're working hard to provide you with a response, and we hope that it won't be too much longer until one is available.



A copy of our complaints handling procedure can be viewed by clicking the link below.



Complaints Handling Procedure



Thank you for your patience.



Kind Regards



Tom Price

Senior Client Services Manager

[cassini] 10/6/2023 00:12

The only way to escape from this kind of incompetence/racketeering is to vote with your feet.

Transfers from one broker to another can be very easy these days with the right recipient broker (I'm with II).

The worst part is probably losing access to the market for a short period during the transfer. That period can be minimised by converting all investments to cash for the transfer but of course you have to buy your shares again after the transfer, so that's a one off cost if doing it that way.

I was surprised to see some share dealing costs quoted in double figures for certain brokers recently - II is only £5.99/trade with 1 free trade/month thrown in on top.

There are also fixed costs to consider of course so do your own research etc.

[oneillshaun] 09/6/2023 18:38

I am having this conversation with my broker now I have had the W8-BEN in place since I opened my account but the last dividend was 30% withholding tax, they have now told me I need to make a claim to the relevant tax authority, which seems a bit weird

[laurence llewelyn binliner] 09/6/2023 15:10

#Howard Moreton, thanks, I figured it was something to do with the FX, my shares are inside an ISA, so I will report what I get on 30th with an active W8-BEN in place..

Worst case it will be the 30% WHT which will be unpleasant but it is not the end, in a PF with 1 component still yielding 10% tax free, it is still a strong return even if not the whole of it, to compensate I will buy 15% more shares.. :o)

[howardmorton] 09/6/2023 13:57

LLB

The reason for the difference between the 30% WHT rate and the apparent 27% deduction you experienced is due to the use of different exchange rates by the bank and DEC. You are calculating the 27% by reference to the amount actually received in sterling (converted into sterling by the bank) compared with the amount of the dividend converted at the rate advised by DEC as the rate at which dividends would be converted for those shareholders who elect to be paid in sterling. The bank does not elect to receive in sterling and therefore receives the dividends in USD. The USD amount is converted to sterling when received.

[howardmorton] 07/6/2023 19:58

LLB

The DEC shares are held in a Smart Investor Trading Account.

[eeza] 07/6/2023 16:52

£1/2m UT at 93.30p

[aleman] 06/6/2023 10:28

Consolidation anticipated in US gas, according to Citi:

[fordtin] 06/6/2023 10:25

Not always so. The example below reports the number of shares held before dropping below 5%, but only shows the following for after;




" Resulting situation on the date on which threshold was crossed or reached
Below 5%..... Below 5%..... Below 5%..... Below 5%
"
There are many examples of this just looking back over the last couple of years of DEC's RNS's. If you start looking into other companies, you’ll find many, many more.



In contrast, todays TR-1 shows the actual number of shares after dropping below 5%.



" Resulting situation on the date on which threshold was crossed or reached
Less than 5%.... n/a ....Less than 5%..... 48,312,013
"

[sunbed44] 06/6/2023 09:13

All holdings RNSs state the resulting position and total voting rights matey.

[fordtin] 06/6/2023 08:07

Unlike many companies which dip below 5%, Perpetual Limited have included in the TR-1 the exact number of shares they still hold.

They've dropped from the 48,725,300 reported on 19th April, to 48,312,023.


So, it seems they still hold 4.974% of DEC, having sold less than 1% of their previous holding.

[eeza] 06/6/2023 07:15

RNS - holdings reduction

[lab305] 05/6/2023 22:46

Does somebody from the company post a spurious question about withholding tax just to distract attention from the disastrous share price ? Just a thought !