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Guest muttley

Dividends On Oversea Shares

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Guest muttley

Does anyone have any suggestions on how I collect dividends on an oversea shares.

I have owned shares in an Australian quoted company.The company announced it's first dividend this year.

Today I received details on the methods of payment. I can either

1 Have the dividend payed in extra shares......not available to non Australian residents

2 Have the dividend payed by cheque.......not available to non Australian residents

3 Have the dividend payed directly into my bank....providing the bank is Australian.

So what's the best way to go about collecting the dividend?

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You could try opening a Yorkshire Bank account in England, or a Clydesdale Bank account in Scotland.

These are part of the National Australia Group of banks and may qualify for your point 3 above.

Just an idea. Good luck.

NDL

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Guest muttley

You could try opening a Yorkshire Bank account in England, or a Clydesdale Bank account in Scotland.

These are part of the National Australia Group of banks and may qualify for your point 3 above.

Just an idea. Good luck.

NDL

Thanks NDL.Definitely worth a try.We have a Yorkshire Bank nearby.

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Today I received details on the methods of payment. I can either

1 Have the dividend payed in extra shares......not available to non Australian residents

2 Have the dividend payed by cheque.......not available to non Australian residents

3 Have the dividend payed directly into my bank....providing the bank is Australian.

So what's the best way to go about collecting the dividend?

I don't understand why option 2 is unavailable, but I'm not going to second guess you here.

More to the point, I don't think a Yorkshire Bank account will work, even though that's part of the NAB group (but give it a try anyway :)). The company probably wants an account denominated in Australian dollars, and at an institution with an Australian BSB number, so they can use the Australian payments clearing system for the direct debit.

I think the big Australian banks have branches in the UK, or you could maybe ask your sharebroker for advice. There must be thousands of UK shareholders of Australian companies in the same position as you.

Do you know if there are any franking credits involved here (not that it really matters; I'm almost certain you can't access them)?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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