Diversified Gas & Oil Share Discussion Threads

[kenmitch] 09/1/2018 21:01

Thanks. They really should reply promptly.

[bushranger] 09/1/2018 20:24

Kenmitch - "They said there would be a further update by year end. Wonder why they haven’t kept to that?"

This is a good question. Their 30th October RNS did state there would be one. I have emailed DGOC directly and will see how long it takes/ if they reply to my questions. Will post back here when they do.

[lab305] 04/1/2018 17:50

kenmitch where was that ?

[kenmitch] 04/1/2018 12:53

They said there would be a further update by year end. Wonder why they haven’t kept to that?

[lab305] 31/12/2017 20:26

Right on further investigation XO is ok but SVS have deducted 30%. So that's that account closed then !!!!

[martinthebrave] 31/12/2017 19:05

lab305 & Lord Gnome - I received a Dividend of 103.8p equating to $1.39 @ 1.34$/£. This means I had 30% deducted by Halifax which I am not happy about when other platforms seem to deduct either 15% or Zero.

When I queried it with Halifax I was told - "W8BEN agreement is only in place if the company pays the dividend through Intesa (the usual system for US dividends). This is not something we have any control over I'm afraid, and as this is how the dividend has been paid to ourselves".

I would have thought that all platforms would be paid the same way?

I have the same issue with #SOM & I am currently awaiting a reply from X-O to see how they treat these Dividends. I will be opening an account with somebody that reclaims the Tax. All very unsatisfactory!

If anyone else receives Dividends that are not Taxed, I would like to know who you are with please?

[lord gnome] 31/12/2017 17:58

lab305 - my net dividend worked out at 1.24 pence per share.
The declared dividend of $0.199 = approx. 1.48p, so take off 15% withholding tax and you get approx. 1.26p. This, give or take, is what I received. If you picked up the full 1.47p per share you have done well.

The yield us very important to me. I invested here primarily for the high yield that was promised. The tax does change things for me. My post tax yield on cash invested is now running at just 3.17%. The dividends will need to double to keep me interested. They might just do that.

[lab305] 31/12/2017 16:49

Martinthebrave I am not stating if they have or not but I have given the amount per share that I received. I am unaware of the technicalities but state what I got per share on each dividend occasion. If you are getting different please state what you received.

[martinthebrave] 31/12/2017 14:21

lab305 Are you saying that Jarvis didn't deduct any Tax from your Dividend? Is this an X-O account? I currently hold #DGOC through Halifax & as with #SOM they deduct 30% and state that they can't recover any Tax back. I know that both HL & AJ Bell do reclaim the Divi Tax and I can't get to the bottom of why Halifax can't?

[lab305] 31/12/2017 10:44

Lord Gnome. Slightly complex area this one. I have held for over 6 months so have been paid 2 dividends. These were for identical amounts of 1.99 cents. The first payment translated to 1.55p that was fully paid to me into Jarvis. The second payment that was recent translated to 1.47p . I checked the exchange rates to explain this and sure enough found that the pound has been strengthening against the dollar. I would be interested to know what your payment in sterling per share was.
Secondly I hold these with other brokers but in much smaller quantities and they may or may not deduct tax, however I have purchased them primarily for capital gain. I may be wrong but I consider this stock considerably undervalued on all metrics . The management appears excellent , holds a considerable stake and does what it says on the tin. If they are paying between 3% and 4% tax or not then to me this is a great bonus and whilst taxation on the dividend is annoying I consider it is not the main point.
Good luck to all holders next year.

[lord gnome] 31/12/2017 09:18

Dividend now received, but somewhat less than I had hoped for due to the 15% withholding tax. This may well affect whether I continue to hold or not. I will wait upon the next dividend announcement to see what level of increase we can expect.

[divmad] 31/12/2017 07:41

I'm with A J Bell and haven't received my divi yet either.

[martinthebrave] 28/12/2017 11:59

#DGOC Another stock that Halifax Share Dealing cannot recover double Tax on Dividends for. They tell me W8BEN only works if Dividends are paid via Intesa & not Crest. HL & AJ Bell don't seem to have a problem? 😬

[wirralowl] 28/12/2017 11:41

Thanks bluerunner and alter ego. Will take it up with iweb and if I don't get the right result, may well sell up & buy some via my HL a/c instead, may well work out cheaper in the long run..

[lord gnome] 22/12/2017 13:16

Lucky you. I use ii (was TD) and haven't yet received my dividends.

[alter ego] 22/12/2017 10:24

likewise, no tax charged on my HL ISA. Anything to do with W-8BEN form?

[bluerunner] 22/12/2017 10:15

WirralOwl - I hold these in an ISA with HL and was not deducted any tax.

[wirralowl] 22/12/2017 09:51

Charged the full 30% tax on my dividend for ISA stock held in my iWeb a/c (last payment was charged @ 15%, as I would have expected, for shares held within the tax wrapper). Anyone else have this issue?

[bluerunner] 21/12/2017 10:03

Nice dividend paid today - and an opportunity to add more.The outlook is very good here and 2018 should be a very profitable year.DYOR of course

[lab305] 08/12/2017 19:15

The big investors are adding whilst the minnows are selling.

[lab305] 09/11/2017 13:11

The tight market works both ways. Not many shares sold dropped the price 6p. A few bought back and up 3p.

[poleaxe] 09/11/2017 13:00

lab305 - well something has spooked then this morning.

[lab305] 09/11/2017 12:38

Poleaxe they were buys .I bought twice and checked deals throughout the day .

[poleaxe] 09/11/2017 11:09

All those buys lab305 was on about were probably sells. does someone know something ?

[lord gnome] 09/11/2017 10:13

My error. It goes ex-div next Thursday. In that case I have no idea why it dropped today.