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American Capital, Ltd. Message Board

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  • sfruehling1 sfruehling1 May 9, 2008 3:01 PM Flag

    ECAS Tax Issues

    I received my first dividends from my ECAS shares (a co. primarily owned by ACAS) that I bought a couple of months ago and hold in an IRA. The dividend was approximately $.234/sh or $.15/sf in Euro $s. It appears nothing was withheld for taxes as ECAS reported their dividend to be $.15/sf in Euro $s.

    ECAS is currently selling at about 50% of its book value with about a 12% yield. ACAS is selling above book value (although, its book value likely is not dirctly comparable to ECAS due to different country accounting laws). I would think ECAS might have greater potential for growth than ACAS due to its smaller size, low price/book ratio, and as the European Mkt could be more robust and under served than the US market. I probably will buy a few more shares.

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