How can you check if the actual dividend payed is correct. Is there another website you can check?
Dividendmax is usually what I use, but if not then google normally has the answers!
Interestingly, it looks like it might be specific to AAPL or just a bug introduced that day.
My ASML dividend paid the day before was correctly calculated (net dist $0.45, total dividend £0.32).
Regarding AAPL, the correct dividend should be $0.22 per share before taking off withholding tax. My AAPL shares are with a US broker, but can confirm this is what I received.
Looks like they’re correcting the Apple dividend in the app - just got a message.
I have been notified that my Apple dividend payment has been corrected.
Any help please
I have received a dividend notification in my account activity but it has not credited to my account funds yet. How long does it take?
Does this 15% take into consideration US Regulated Investment Companies [RIC] tax free distributions? Are these also taxed at 15% even though portions of these are tax exempt in the US?
I’ve never had any shares of this type, so I’ve no idea, but I’d guess it wouldn’t apply.
The purpose of withholding tax is because all citizens have to pay income tax on dividends, so it is withheld at source and then it’s used at tax return filing time to offset against the tax that needs to be paid. It’s a bit like PAYE in this regard.
If the dividends from a particular class of investment is free of tax in the US, it wouldn’t make sense to add the withholding tax to it. However, it’s possible that it’s only zero rate tax for US citizens, I have no idea because I’ve only looked into the standard case.
I’m one of the PMs here at Freetrade, specifically, I look after our post-trade processes, including the dividend payment issue being discussed on this forum. This shouldn’t have happened and this was our mistake.
A number of users that hold Apple stock through Freetrade received a higher dividend payment than they were entitled to on Friday.
Why did this happen?
This happened because of an internal calculation error where our systems failed to apply the correct $ / £ rate to this dividend.
What have we done about it?
We’ve corrected the error and debited the overpaid amount from each customer that was impacted. We’ve also contacted users who were impacted by this to inform them of the mistake and apologise.
Our operations and engineering team had a productive workshop on Monday to address this specific issue and we’ve currently enacted a plan to make sure that this doesn’t happen again.