Somero Enterprise Share Discussion Threads

[chillpill] 11/5/2022 08:23

I must check my SPSY dividend- I hadn’t thought about it!

[chillpill] 11/5/2022 08:21

On a separate note I really like this company. I have followed it since IPO.

At the moment the market is trying to figure out whether we go into a full global recession or not.

If we do then we can expect more market weakness. The US economy is a lot stronger than others but they alone can’t prop up the ROW.

[pj 1] 11/5/2022 08:20

I did. There is a legal reason related to ownership of the shares (nominee) and the cash trail which way too complicated for me to understand, so I will not try and try and communicate it here.

That's why I moved my US (and AUX) shares from HSBC.

If you read far enough back on the SPSY thread you will see it is a commonly discussed issue, which has been challenged by quite a number of Investors.

[chillpill] 11/5/2022 08:17

It happens a lot with overseas dividends.

Most nominees are “pooled nominees” which means everyone’s holdings are aggregated in to one holding as far as the registrar is concerned.

What this means is the broker takes a worst case scenario from a tax perspective and so most of us get shafted with dividends. Switzerland charges 35%.

In theory you can claim it back but it is deliberately an arduous process meaning most don’t bother as the cost is too high.

[eggbaconandbubble] 11/5/2022 08:01

Report them to the Stock Exchange.

[pj 1] 10/5/2022 19:40

I hold SPSY where I had the same problem in that HSBC VIA A w8ben always witheld 30% and would not alter their stance despite an official complaint. I therefore transferred the holdings to HL who only deduct 15%

I think Halifax are the same as HSBC.

Fiasco

[benbay001] 10/5/2022 18:48

I use to be taxed at 30% with iweb even though i had completed a W8BEN

[gifted] 10/5/2022 16:15

I think I've read something about this before. I bought SOM a few months ago and hold hold in an ISA. Halifax Sharedealing have deducted 30% withholding tax from the Somero dividend rather than 15% and claim that this is because the shares on held in CREST. I have signed the W-8BEN form. Are they right?

[benbay001] 10/5/2022 15:18

Got to be fat fingers. Jumped from 380 to 480.
If only..

[monsjmse] 10/5/2022 15:14

May just be a fat finger trade? - I see no news. Still quoted 390 to buy on IG.

[ali47fish] 10/5/2022 15:02

what has caused the splike up in the share price by 26pc?

[lammylover] 10/5/2022 10:54

Sorry my error - thanks for pointing out. Must be tax paid.
Lammy

[benbay001] 10/5/2022 10:29

@Lammylover - the exchange rate has moved in our favor (assuming youre working in GBP).
The 12% difference is likely because you didnt account for withholding tax at 15%?

[ceaserxzy] 09/5/2022 18:51

AJ Bell is the worst, always the last to pay and at the worst exchange rate. I am still to see the payment to appear in my AJB account.

Got it in my II account at the same 28.43 p per share.

[thorpematt] 09/5/2022 18:34

ii a bit slow but arrived today, my conversions are as per shanklin's.

I think USD/ GBP conversion rate is as per the the payment date when it was at 1.26.

A continued fall will ultimatly be "good" for repatriated earnings, so it adds to my iinvestment case.

None of which leads me to believe that this won't fall with the market, but it's a core, quality, holding so I would add, not trade-out in such an event.

[eggbaconandbubble] 09/5/2022 17:54

I got 28.41714p

Can one claim the 15% tax back in either an ISA or nominees account?

[sdmbot] 09/5/2022 16:57

Shanklin,

HL always screw you with USD transactions, for example if you buy US company stocks their fx rate is always terrible, and then if you sell them, they automatically convert back to stirling... at a punitive rate, they won't allow you to hold the funds in USD. It's one of the reasons why I've moved over to Interactive Brokers which is much better, there are several other benefits as well; you can lend your shares, you can convert fx at really good rates and per transaction they're much cheaper.

[lammylover] 09/5/2022 15:30

Agreed, frustrating about slump in FX rate since SOM went ex dividend. I calculated on the ex dividend date what I'd expect to receive, but the actual received is 12% less.
Still a decent sized slug fortunately!

[shanklin] 09/5/2022 14:48

I just received ii ISA payment. It was 28.436p per share.

HL credited my SIPP dividend payment on Friday at 33.009p per share; subtracting 15% to calculate an equivalent to the above, gives 28.06p per share. Can't say I am too impressed by the implied exchange rate at HL.

[lammylover] 09/5/2022 14:06

Just got SOM dividend in II - Payment is 28.153p/share. Of course the pound has slumped v dollar recently which has affected the size of the payment; but still excellent % return and a hold for me.

[benbay001] 09/5/2022 14:05

Ive just received mine in my II ISA.

Its been taxed at the correct 15%.

[lammylover] 09/5/2022 12:35

I've dropped II an email about the SOM dividend, asking them to chase up.
Normally they are quick to get these credited to investor accounts, so am surprised by the delay...

[chamer1] 09/5/2022 12:21

I have a SIPP in II and same as you no divi

[benbay001] 09/5/2022 12:10

Still no divi from ii. Anyone else?

[darrenp746] 06/5/2022 23:11

Nothing in ii yet, normally they’re quick but not today