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YPF S.A. Message Board

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  • rudfox rudfox Mar 26, 2011 2:30 PM Flag

    Here is the YPF story

    "The dividend has no withholding tax in Argentina."

    1.Does this mean there is no withholding for Argentine residents, or that there is not withholding by Argentina for US residents?

    2. This is a "sponsored ADR". Does it have a depository fee charged when dividends are paid? I suspect so. When that occurs in a taxable account, you pay tax on the gross dividend, and most people don't get to deduct the fee due to thresholds. Some ADRs have the fee paid by the sponsoring company. I wish the Yahoo profile or the Key Statistics had the ADR fee information. A 2 cents per share fee is a lot worse with a $0.10 per share dividend than it is with a $1.00 per share dividend.

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    • I don't know about the fee. There is no withholding for U.S. holders. Some countries have non-citizen withholding of 10-15%. Info from S-1 offering circular.

    • Dividends tax

      Dividends paid on our Class D shares or ADSs, whether in cash, property or other equity securities, are not subject to income tax withholding, except for dividends paid in excess of our taxable accumulated income for the previous fiscal period, which are subject to withholding at a rate of 35% in respect of such excess. This is a final tax and it is not applicable if dividends are paid in shares (acciones liberadas) rather than in cash.

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