BNS Dividend - wrong amount?

[James]

My notification from T212 today says that BNS paid a dividend of $0.57 per share. The dividend, according to NASDAQ and YahooFinance was ~$0.665 per share.

Is the $0.57 figure the dividend recieved after tax? Or was the wrong amount sent out from T212?

(There is very little clarity within the App or Web Client on dividend payments – something which could definitely be improved)

[Vedran]

Judging by numbers, 15% cut, meaning your country of origin has 15% tax treaty with US, thus withholding was taken.

[James]

Thanks - I thought that might be the case but I wanted to check.

T212 notification says that

...(BNS) distributed an ordinary dividend of $0.57 per share

That statement is incorrect – which is bad on T212’s part.

[Richard.W]

I think they are aware that their dividend reporting needs improvement.

Another thing - , the dividend should be converted to base currency using the exchange rate pertaining on the payment date, not the rate on the ex-div date. I am not sure whether or not this has been fixed.

Dividend calculation

@Richard.W We won’t be using the ex-date anymore. All future dividend conversions will be made using the payment date rate. That should reduce FX risk to a minimum.

@David Has this been done now or is it still being tested? This #28 in this features request list

[PeterA]

@Richard.W

Another thing - , the divdend should be converted to base currency using the exchange rate pertaining on the payment date, not the rate on the ex-div date. I am not sure whether or not this has been fixed.

Yes - it has been amended.