TEL declared a 10c dividend and 10c special dividend payable in September. Would that be 10c New Zealand? Do Aussie shareholders get paid in A$?
The last time I bought a NZ stock (Fisher & Paykel) I got paid in NZ dollars and I had to pay the bank $25 to convert it for me. Does anyone know whether TEL will pay in A$ ?
money tree
8th-August-2005, 12:52 PM
Opening a NZ bank account may save on fees. See if there is a DRP.
Also remember that NZ company tax rate is 33% so franking credits are worth more.
Hanrahan
8th-August-2005, 07:31 PM
I was getting divs 5yrs ago without drama but checking my statements tonight I remember that I was using the Div Rep Pan. There was still withholding tax but that was claimed at tax time.
But everything was converted to A$ so I suspect you should have no dramas.
The div you are talking about is about double what I was getting. What return are you getting as a %?
sam21poddy
9th-August-2005, 10:35 AM
The dividend is double because 10c is a special dividend and 10c is the normal dividend. I think NZ 10c is about Aussie 11c so 22c on today's price of $5.65 is pretty good. In Saturday's Sydney Morning Herald it said that the yield was 4.6% compared to 2.2% of the industry average. I haven't bought any yet, just trying to decide whether to buy or not. The price doesn't seem to be moving which makes me wonder - why doesn't anyone else want it?
rozella
9th-August-2005, 11:11 AM
There is also a bit more being the supplementary dividend inlieu of franking
For the fourth quarter and special dividend New Zealand imputation credits of 4.9254 cents per security are
attached to each dividend. A supplementary dividend of 1.7647 cents per security is payable with each dividend to non-resident shareholders.
This NZ cents
money tree
9th-August-2005, 11:44 AM
"There is also a bit more being the supplementary dividend inlieu of franking"
dont you mean a bit LESS ?
The supplementary div is less than the imputation credits ie A BAD DEAL. This is assuming it is IN LIEU.
Since July 2000 NZ imputation credits have been exchangeable for Aust franking credits.
Why have this supplementary div? Maybe it is for non aussies? Maybe it is an extra to encourage foreigners to invest in NZ?
rozella
9th-August-2005, 12:14 PM
I meant extra to the ordinary div of 10nz + 10nz special div as was mentioned above.
You may be correct money tree, the supplementary dividend could be over & above.
56gsa
29th-April-2006, 10:50 AM
Tech analysts out there - is there a head & shoulders forming in the TEL daily chart? if so, does it suggest completion on May10 @ a bit over $5?
