Diversified Energy Share Discussion Threads

[sunbed44] 28/9/2021 20:16

G1966 - appreciate you trying to help me but im confused now. I bought all my DEC without completing a W8BEN form and bought them as UK listed shares. Below is a copy of a bit of text from the Halifax website. From the below I cant see how I can reduce my holding tax to 15%. Does anybody on here hold DEC shares with Halifax and only get 15% withholding tax deducted on dividends. If so how did you make that work for yourself. Here is the text from Halifax site.In most cases when you complete a W-8BEN form you will only pay the 15% Withholding Tax rate instead of 30% on US listed shares paying US sourced dividends. For UK listed shares paying US sourced dividends a 30% Withholding Tax rate is applied even if you have a W-8BEN form in place.

[lord gnome] 28/9/2021 18:46

Sounds like time to say goodbye to Halifax and move to a share dealing service that knows what it's doing.

[gary1966] 28/9/2021 18:33

sunbed44,

Then Halifax are talking cr*p then. Everybody on here has bought them in the uk and through crest in all likelihood. If you complete the W-8BEN Halifax have no choice legally but to only deduct 15% withholding tax. Tired of saying it but anyone in this situation needs to take control, raise a formal complaint and take it to the authorities and let them deal with the Halifax, Lloyds or whoever.

[cassini] 28/9/2021 18:31

sunbed,

From what I hear on this board regarding ISAs and W8BEN forms, what Halifax has told you is not accurate. DYOR etc.

[sunbed44] 28/9/2021 18:07

My divi hit my Halifax ISA and based on my auto reinvest setting turned in to shares today. Spoke to Halifax and if shares are originally purchased in UK via Crest, 30% tax levi is automatically deducted in US before divi hits UK account. I've not completed a W8BEN form but apparently even if completed it does not negate the 30% reduction. So I got 2.88p x 0.7 = 2.016p per share. Therefore x4 quarters (assuming future payments remain the same gives annual return of 8.064p / 116p = 6.95% ROI.

[yaesu] 28/9/2021 17:20

3800
I am in the same position as you with Eqi/ii. I have not yet received my DEC divs (a bit worrying!) but other divs have been received in USD and I have converted them to sterling. I don't know if you can have them converted automatically to sterling.

[aleman] 28/9/2021 14:45

yupawiese2010
28 Sep '21 - 12:26 - 1001 of 1003

@Aleman. - Would it not be more appropriate to quote the Henry Hub gas price futures, rather than the UK gas price futures, which are obtainable from the link below.



I posted the chart for that in 991! And links in earlier posts, too. lab305 had already commented on this morning's Henry Hub move in 996 only two hours earlier so there was no real need to quote that again.

[3800] 28/9/2021 14:18

Does anyone else hold DEC in a trading account with ii? I have had my custom transfered there from Equiti, previously I have recieved my dividends in sterling in my dealing account but this time I recieved them in USD and had to convert them. If any one else holds these shares in a dealing account with ii do you have to "elect" somehow to be paid in GBP?
Obviously in an ISA the provider converts the dividend for you are you are ineligable to hold foreign currency in an ISA

[podgyted] 28/9/2021 13:16

Thanks Yupa - very useful. Been meaning to track down a LT US futures site.

[yupawiese2010] 28/9/2021 12:26

@Aleman. - Would it not be more appropriate to quote the Henry Hub gas price futures, rather than the UK gas price futures, which are obtainable from the link below.

[aleman] 28/9/2021 10:13

UK October, November and December contract all up 10-11% today. Winter 2022/23 up another 5%, having doubled since mid-June. The October contract is 211 versus 38 a year ago.

[redtom1] 28/9/2021 08:35

1knocker,

I'm not suggesting that the share price should rise to match the increase in value of the reserves. I'm just suggesting that their major asset has risen significantly in value and does not appear to be appreciated by the markets.
The share price is current 4p lower than it was in May when the deals were announced. All 3 deals were earnings enhancing and the NG price was half what it is now.
Whereas a couple of reasonably comparative peers (Antero & Range) have doubled in the last 6 months. Something is holding DEC back and I don't know what it is or why.
All future hedged pricing is being done at a much higher price than expected so future, secure, known cash revenues will be higher with the added expectation that unhedged reserves should be sold at a better price than previously expected.
I appreciate that this is a major income stock so capital appreciation is purely a bonus but when you get the freaky events of large accretive deals followed by a doubling of NG, one could reasonably expect a little more positive share price action.

[fardels bear] 28/9/2021 08:29

And look, it's gone up a couple of pence whilst we've been bickering

[fardels bear] 28/9/2021 08:28

I am more than happy with the shared I own. They are 7p higher than my average buying price and I've had eight grand in divs. Your sour grapes is due to your higher buying price and a certain ignorance about the meaning of the word patience. I venture you have disproportionately invested here which is another mistake of the inexperienced.And if you think I am abusing you, well, you ain't seen nothing yet.

[lab305] 28/9/2021 08:12

What can't speak can't lie. You need help with your blinkered vision. Abusing people with a different point of view is not a valid argument. The poor performance of the share in a boom period is directly attributable to the management.

NATURAL GAS
6.119 +0.413 +7.24%
And I mean boom !

[johnhemming] 28/9/2021 08:11

Spot is under USD5, but the next futures contract is now over USD6. (6.27)

[fardels bear] 28/9/2021 07:52

Don thy armour, Sir lab. Saddle thy horse. Sally forth to give battle against the wicked board of directors..And please don't come back.

[lab305] 28/9/2021 03:21

Aleman thank you. That illustrates the disconnect between the two which happened exactly at the placing on 20/5. Before that date one pretty much mirrored the other.

[1knocker] 28/9/2021 02:06

Redtom it is only crazy if one assumes that the reserves will all be sold at today's prices. Prices rise and fall, and then there is hedging ....not to mention the cost of replacement of those reserves. It is not a simple equation to reflect value of reserves in share value, and certainly cannot be done simply betaking raw figures from the accounts.

[aleman] 27/9/2021 23:26

free stock charts from uk.advfn.com

[lab305] 27/9/2021 21:27

NATURAL GAS
5.828 +0.688 +13.39%
Can anybody post a graph of DEC.L share price against natural gas price since 1 January this year ? Thanks.

[aleman] 27/9/2021 16:41

A lot of futures for 2023 on are up about 2%. They are being dragged up by the 8% rise in spot.

[gary1966] 27/9/2021 15:48

NGAS up over 7% today, $5.57 as I type.

[redtom1] 27/9/2021 14:43

Riverman77,

I totally agree with you. The increase in value in the Reserves (ie PV10) is not reflected in the share price nor is it properly appreciated (IMO) by the investment community. The increase in value over the last 3 months is equivalent to the whole market cap! Crazy.

[gary1966] 27/9/2021 14:00

Thanks scrwal