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Sanofi Message Board

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  • alfredtrifiro alfredtrifiro Jun 22, 2011 10:06 PM Flag

    Dividend

    It looks like France withheld 25% of the approx 1.8 div. I am in the same situation, but have been told that France and the U.S. have entered into an agreement that only 15% should be withheld. Supposedly, your broker has to file a simple statement with France that you are a U.S. citizen for you to qualify. I have initiated a complaint with my broker. You may want to consider doing likewise.

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    • Looks like Etrade disagrees and insists it's 25%. They are really annoying and lack timely accurate information about Corporate Actions. Might be time for a change and find a better more competent online broker. I did mention the treaty and how it is 15%. I also checked Google and many sites said the same thing...

      • 2 Replies to mondoukusai
      • In my opinion, these Wall Street giants are too shrewd to just overlook this stuff. My broker is Pershing thru T Rowe Price. It makes me wonder if someone could be diverting the 10 percent. I understand that all the broker has to do is notify the U.S ADR agent bank to meet the requirements. I have not yet received my SNY dividend yet, but my problem has been with another of my French holdings. I will follow thru with this one as well and change brokers if not happy.

      • My info is that France only charges 25% due to the treaty. Without the treaty, it would be more than 25%.
        My problem is that Ameritrade (my broker) only received a dividend of ~$1.69/share (before withholding), when it should have been $1.82 according to Sanofi's own web site (still as of 7/2/11).

    • Thanks for that helpful tip. I've sent a note to my broker (etrade); they still have yet to pay the dividend to my account. They are sooo slow. It's exactly a week now since SNY announced the paydate. I've sent them a lot of annoying chaser emails.

    • Any luck with your broker? My broker it TD Ameritrade, and, after lenghty back and forth, they finally claim they filed the necessary paperwork on my behalf and it was rejected. Supposedly SNY thinks a "rollover" IRA is not an IRA... ? HUH? whatsat????
      I furthermore, am hearing that Charles Schwab and Fidelity investors have had their withholding reduced to the correct 15% without the individual investors having to jump through hoops.
      Time to bid TD Ameritrade adieu, I believe.

 
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