Dividend notification

Last Thursday I received a dividend from Nordic American Tankers Ltd. (NYSE:NAT). So far I have only received a notification in the web application:

Several data in the notification are incorrect. The dividend was actually paid (distributed) on June 5, not on May 22 which is the ex-dividend date. And the actual dividend is 0.14 USD per share, not 0.12 USD. The official details about the dividend are available here.

I wonder where has the difference gone. Note that the company is based in Bermuda where no withholding tax is levied.

And even if all data in the notification were correct, such a screenshot is simply not good enough to submit with my tax declaration to my local tax authority. I wonder whether I may expect a more detailed statement with all necessary data, such as the exact payment (“value”) date (June 5 in this case), the exact gross amount in the original currency (USD in this case) and the withholding tax when applicable.

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Hi, Trading 212 are currently working on a better dividend notification. As for your queries.
Has the dividend came up in your transaction history on your phone? And yes it does say the ex date for the date it was distributed for some reason.
The dividend was 0.14USD, and after the 15% withholding tax it becomes 0.119USD which is rounded up to 12USD. I have a feeling they used the amount after withholding tax as they received too many complaints from people unaware of withholding tax that they are missing money. But should be corrected when the dividend notification is updated.

And the company is listed on the NYSE, meaning that you are buying it as a US stock, and therefore you have to pay the 15/30% witholding tax.

Hope this helps, let’s hope that a more detailed dividend notification comes soon.

Hi @pinguin,

I would advise reaching out to support team via email form.
I had similar issue where my dividend was witheld at higher rate then required by treaty.
It was a Canadian company listed on NYSE.

So very likely you were witheld the 15% due to your country treaty with US. However the source of income in your case is not US but Bermuda, so should be 0% witheld, all taxes would be paid in your country of origin.

Today I received the remaining $0.02 per share as a “bonus dividend”.

Did NAT indeed pay it in two steps or is this a kind of a general practice at Trading 212?

Sorry @pinguin, I didn’t notice your topic when I posted this a couple of days ago:

https://community.trading212.com/t/explanation-of-first-dividend/10251?u=supraman

It seems like we share the same experience and concerns. I wasn’t aware of the potential Bermuda issue.

Can you keep me informed if you learn anything please?

We’ve already fixed that discrepancy & all of the affected clients has received the missing piece to 0.14 USD per share.

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