This is a natural producing oil and gas firm. Operations are based in the US, and the company own long life, low operational cost assets throughout several states.
Is tax being withheld from the the dividends? We all fill out w8ben forms so I assume that arnt but be good to check as we might miss out on the full dividend.
15% tax is witheld on US dividends if you’re non-resident in the USA and filled in the w-8ben to attest the fact, compared to 30% without the form. I understand though that it’s 0% taxed if the stock is in a SIPP
I see this company has updated its name to Diversified Energy Company - new ticker is DEC.
Anyone know how long this will take to filter down to the app as not updating latest price any longer?
Welcome, @Janscomb Thanks for the heads up. I noticed the company changed it’s name on Twitter this morning.
@sampoullain The company has changed its name and ticker.
Diversified Gas & Oil plc DGOC = Diversified Energy - DEC
‘The acquisition of upstream assets and related infrastructure from Blackbeard, for a total gross consideration of US$180 million, further expands our footprint within our newly identified Central Regional Focus Area and increases our total production by 16 MBoepd. #DEC $DEC’ - Company announcement on Twitter
Topped up last week.
Dividend is excellent, good to see them purchasing more resources to increase production in there niche.
Topped up this morning, I didn’t think we would see these levels again to be honest. Not sure why it has dropped sub £1.10 as I didn’t think the placing was at a ridiculous discount and the business model looks to be solid so far!
Dividend should be paid today
Dividend received. 15% withholding tax.
Would be nice in the UI if there could be an asterisk next to dividends that will be subject to a withholding tax. Makes 10.93% yield closer to 8.5-9.0%
As well as gaining an improved/extended credit facility DEC has just announced that a number of institutional investors have decided to buy shares, which I think is likely to indicate growing confidence in the company.
I think at times such a high dividend yield can put some retail investors off, not helped by if they add too much importance to the income statement which for DEC portrays a false image due to the hedging.
If they maintain these dividend payments I’ll be here for a long time (hopefully!)