Forum Archive Index - July 2002

[Sam and Jerry <samjer@xtra.co.nz>]

In terms of being paid dividends:

The registry with whom  the shares are registered (Computershare,  with RBD)
are responsible for sending you the dividend, either by cheque, or direct
credit to your bank account (provided you've given them your banking details).
You will also receive a Dividend Statement from Computershare (or BK or
whatever the registry) with very important information about how many
imputation credits, withholding payment credits etc you've got along with the
payment ... those credits can be deducted from the amount of income tax you've
paid over the year, and result in a nifty tax refund, provided you've actually
claimed them.

When you buy shares, within a week you should receive from the registry, an "NZ
FASTER STATEMENT"  saying  how many shares of whatever company you have
registered under your name.  This statement also shows your shareholder number,
without which, you cannot sell the shares,  ie, you have to give Access
Brokerage your CSN, plus your FIN number when you sell the shares.   (Which
means you must have had the shares registered with Computershare, in order to
sell them).

I suspect that Access Brokerage didn't get your RBD shares registered in time
for you to be recorded as a shareholder at the record date (sometimes this
happens, through pressure of last minute transactions before 5 pm of the Record
Date).  Most brokerages (like ASB Securities) are very good at automatically
rectifying the matter themselves, and paying the divvie to you out of their own
accounts, but it's possible your broker forgot.

What you need to do is:   get together  both your Buy and Sell Contracts for
RBD, check the date that you sold, check the past announcements, (very easily
done through Stockness Monster) to find out the record and payment dates, to
see if you qualify,  make sure that you did get a NZ FASTER STATEMENT from
Computershare showing that you were a registered shareholder, and if you were,
then ring up Computershare and tell them about not receiving the dividend. (You
should have received the divvie on the Payment Date, give or take a day or
so.)  So long as you have bought the shares before 5 PM on the Record Date, you
qualify for the dividend.  The Payment Date is usally a week or so later.

If you never received an NZ FASTER STATEMENT  from Computershare, then Access
Brokerage messed up and never registered the shares you bought through them.
(I've dealt with four different brokers since first starting to invest three
years ago, and they all have always done this automatically, using the
information, like the  postal address given when  opening  the account.

As you can see, you need to keep records of your transations carefully filed
for problems such as this.  I use a big old loseleaf binder,  sectioned into
SHAREHOLDINGS (NZ, Aussie etc) , BUY CONSTRACTS, SELL CONTRACTS, DIVIDENDS etc.

Hope this helps.

Jerry


CG wrote:

> Can someone please explain to me some things about NZ dividends. As far as I
> know the company announces a dividend amount and date. The dividend is said
> to be paid to shareholders on the company records at a given date.
>
> The thing is I had shares with RBD this year and never got paid anything. I
> sold soon after the record date.
>
> Do you have to hold for a certain while before or after the record date?
> Do you have to send them your address etc? How do they pay out?
>
> I deal with access-brokerage online only.
>
> Thanks in advance.
>
> Curtis
>
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