US Dividend Payments - Aussie Stock Forums

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  1. #1

    Default US Dividend Payments

    I'm aware that Australian dividends are paid into your Australian bank account via cheque or electronic means.

    If I owed US dividend paying stocks how would I receive US dividends if I don't have a US account. Does the US company pay it to my broker or will they mail a cheque? Some US stocks pay dividends quaterly so if I was to pay a dividend cheque into my Australian Bank account there would be little or none left after bank fees. Perhaps even a loss after tax.

    Let me know your thoughts.


  2. #2

    Default Re: US Dividend Payments

    a few will direct deposit , but you get slugged a fee for conversion by your own bank. Im with ANZ and they charge me $15 per transaction and give me a fairly stingy exchange rate conversion price....

    If I take in 5 cheques at once they still only charge $15....

    hope this helps

  3. #3

    Default Re: US Dividend Payments

    Condog, Thanks for your help.

    I have done some research and found the SEC website offers the information I was looking for.

    If your US broker registers your shares in "Street Name" (Most US brokers do this) then you will received your US dividends in your US brokerage account.

    Just make sure that if your US broker does register your shares in "Street Name" that they are members of SIPC (Securities Investor Protection).

  4. #4
    noirua's Avatar
    Join Date
    Feb 2006
    Kent, England
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    Default Re: US Dividend Payments

    If a dividend is very small and not worth cashing then it can usually be donated to a charity through the company, especially in the States.

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