In contrast to your discovery of the Dutch fisc's form, Shell implies that only certain categories of pension fund and large institutional shareholders can avoid or reclaim the withholding tax, though the language on the Shell website is pretty abstruse.
It is possible that no-one in Shell has bothered to revisit that wording, though they really should do if "your" form is right, as it appears to be, that small UK shareholders really can reclaim the withholding tax.
If the withholding tax really is the reason why RDSA currently sells at a (small) discount to RDSB, and if that withholding tax is easily reclaimable, Shell should certainly make that clear on their website.
It would be nice if there were no difference between the RDSA and RDSB share price. There "ought" not to be any difference, because both classes of share attract the same gross dividend.
If I can be arsed (doubtful) I might write to Shell and raise the matter directly.
A good find, m8! A quick scan of the form suggests that Blighty private investors should indeed qualify to get the withheld divi tax refunded, though the reference to the need to include dividend vouchers with the form suggests that those Blighty shareholders who hold RDSA via a nominee or in an ISA/Sipp (probably most of 'em) will not receive a qualifying dividend voucher, so what happens then as regards getting the refund from the Dutch fisc, I wonder?
Still, very decent of the Dutch to have a form in English!
Perhaps the increasing ability to get the tax back is (part of) the reason why the price of RDSA and RDSB has been converging recently. It was the divi withholding tax which (in my opinion) was the main reason why RDSA sold at a discount to RDSB in the past.
"What would the advantage be to holding BG as opposed to RDS?"
I suggest you read up on the discussion on the BG board, which contains all human knowledge on this subject.
Essentially, because BG shareholders will become RDS shareholders (with a chunk of cash as well) you can buy BG at a discount to the price at which it "ought" to be. This is because there is some risk (increasingly little, fingers crossed) that the deal may fall though.
But, if you believe, as I do, that the deal will go ahead, buying BG enables you to get RDSB down the road on the cheap. And you'll get a gob of cash (£3.83 per BG share) just in case the oil price goes to hell in a hand cart and the Shell share price continues to fall, in which case you can buy summat else with that cash, or stick it under the mattress.
It seems such an obvious trade that I do worry a little that the Shell share price will be damaged in the short term as arbitrageurs switch from Shell into BG.
Don't be too hasty! If your ISA manager can cope with scrip dividends and if you do not need to take divis in cash you could keep the A shares and take scrip divis WITHOUT incurring the Dutch divi withholding tax.
A shares are priced a little lower than B shares (largely because of the tax on the cash divis from A shares) so you will be better off if the foregoing is possible for you.
Personally I've sold all my Shell B shares and am now 100% in BG in order to switch into Shell when the BG takeover completes, as is looking increasingly probable.
6500 jobs going at Shell. 2,300 to go from New Orleans.
Not just oil getting hit in USA. HP axing 7,000 jobs and AP (food retail) axes 3700 for Thanksgiving. Deere are also getting ready for heavy redundancies as tractor sales plummet 40% State side. It will take a few months before heavy job losses start appearing in NPF as the announcements take a couple of months to implement. Manufacturing sectors starting to lose to cheaper imports so USA starting to follow China. Suggests oil could be low for longer than many expect. The housing market traditionally slows down in October in USA so I am wondering where the growth is expected to turn things around.
there is some downward risk in mid to short term - but got to be little doubt in long run this s a total bargain. even if dividend was halfed considering where interest rates will be for many years to come.
Little down China & others will "do whatever is needed" as EU did and markets will skoot back up again.
I very rarely sell shares & always advise buying for very long term - also bought a lot of GSK which seem to be a bargain not much point in day trading - considering stamp tax & spreads impact over long run
I have done exctly the same as you!! Purely from observation there seems to be a floor under this at c1845, and I reckon a true value is over 2000. Uncertainty is being generated by the BG takeover, but I think the yield is sustainable. So a long term hold for me, and if funds allow I wil get more at c1845. Keep an eye on the chat on the RDSB board. Some seem to know what they are on about. Good luck.
Bought in at what I thought was a reasonably cheap price circa £19.00 but then share price continued to drift downwards, slight bounce yesterday morning then dropped down again in the afternoon and again this morning.
Divi is exceptionally good so I intend to hang on.
Thoughts anybody on where the share price is going in the short-term?
The PER is under 12, and the yield is potentially almost 7%. There is surprisingly little debt to be serviced. The price is at its lowest since late 2010. Will the BG deal scupper this? Is there a large short interest here does anyone know? HSBC is the only broker with a truly negative view here.
This seems to be a decent buy for the long term to me, but I would truly welcome any info or comments.
Evenin chaps/dampie..Just mapped out the week ahead ..lookin good..I got a spare few mins(dont have time to chat much thru the week)..so U allude to my offerings as 'fantasy trades'..well Im not to concerned wot u think..however IF these were/are fantasy well...excellent entry/exits Nonetheless..however regarding my 'quoted' prices...since 99% of my entries are well in advance..(and I ask again can/does anyone else offer EXACT targets hours/days/weeks in advance?..if so show me WHO) and these Entries are derived from the chart..I give the chart price..for example IF I see a chart/shareprice to drop from 360 to 250 ..wot do I post..do I say buy @ 250(my prefferred)...do I try to calculate the spread and say buy @ 280..do I factor in the stamp duty/fees and say Buy @ 290..u see how this is ridiculous?..same applies to my advanced exits.Now regards to 'live'(actually hindsite) exits/closures...my technique is to disclose to ANY bb immediately(within seconds..even tho Im slow typer) how do I do this..when Im going to sell/bank..I have the closing ticket on one side of the screen and my chart on the other..where ALL the diagonals line up ..that is my intended sell..when it hits. I bang on the close ticket(I dont even know at the time what the price was).I immediately come to the appropriate bb and disclose the number as seen on the chart.Now u may ask..WHY dont u search thru your 'activity' and disclose the exact selling price ..well of course that delays the posting ..it isnt of any value..like I say many providers have differing spreads/costs..whereas I may have sold @ 391..u might say thats impossible my provider didnt offer that..Now...It would be quite easy(and Ive seen this done) where wannabe fantasy traders post delayed entries AND exits by 5..10..15+ mins ..when the prices quoted are nowhere near possible .Anyhows I recognise U just out to wind up..but thought Id explain my general practice re trade/posts...best of luck
I said that I struggle to see any value in your posts. I didn't say they are of no value. There well may be other people out there who hold great store in your views, and good luck to them (and you). But your posts have no value to me.
I struggle to see any value in your posts Lambrini Girl.<<<IF u read my posts U would see on Wednesday I put a DOW BUY/pivot @ 18050..BANG ON!!...I said yesterday SELL RDSA @ 2027...BANG ON!!..and yes Im expecting a decent drop on DOW..when I posted this ..it was at 18230(ish)...so U DONT see any value..well please let me know your thoughts..
>>remember to allow for the bid/offer spread<<<so u want me to put 100's of entries here to allow for every companies spread/fees...theres no pleasin some folk..this is why I seldom post numbers cos it drags ALL the losers outta the woodwork..perhaps tomorrow YOU can provide both the mornin then afternoon LOWS..thought not..u wouldnt no where to start..
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