Isn't the allocation of 48% of WPL as the consideration for BHP's O&G being distributed as a franked (or taxable) dividend - if my thoughts are correct ?
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Isn't the allocation of 48% of WPL as the consideration for BHP's O&G being distributed as a franked (or taxable) dividend - if my thoughts are correct ?
Yes fully franked. If it stacks up I will sell BHP cum the allocation and buy more WPL..
I wonder what the end result of the following NZ Shareholders Association approach to
Inland Revenue on NZ Tax implications of these large mergers was ?
https://taxpolicy.ird.govt.nz/en/pub...bill/demergers
https://www.smh.com.au/business/comp...18-p5ambv.html
Potash, its kind of a big deal apparently.
So the sale of BHP's energy assets to Woodside have been approved with BHP holders getting 1 woodside for every 5.5340 BHP shares in the form of an in specie divi, fully franked. But us Kiwi investors cant make use of the franking component and will get less Woodside shares.Can anyone confirm this, thanks.
Found this at Craigs .
:BHP shareholders will receive 0.1807 shares of WPL for each BHP share. At WPL’s current price of A$31.19, BHP’s shareholders will receive A$5.64 of value per BHP share (excluding franking credits which NZ investors can’t use), which equates to BHP paying out around 11.7% of its value.For non-natural investors (such as trusts) in New Zealand, we expect the in-specie distribution to be considered a taxable dividend. Our calculations suggest the tax burden could represent 5.8% of current value of BHP. For individuals, we expect the distribution will not be deemed a taxable event.
SP getting kicked upwards ahead of trading Ex the Woodside Distribution on 25 May on ASX
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
BHP was trucking along quite nicely until today with a bit of a dip .. never mind - liked the smell of WDS better.
I may be wrong, but dont see a local NZ taxable aspect to this deal unless I've missed something.
Still got the prescribed number of Woodsie shares - has anyone sighted anything that looks like
a dividend notice for Kiwi holders yet ?
Pretty inequitable getting slugged on being given back a slice of what you already owned surely ? ;)