The other day, I was on the phone with Citibank, who is managing the TSM ADR shares and I had asked them for the conversion rate for the upcoming cash dividend from TSM. The person I spoke with said it is right now at $.32 cents, or 32 cents for each share of TSM that we own.
Last evening, I was on the phone with my broker regarding a matter other than TSM. After we finished, I asked him, out of curiosity, what the current conversion rate for the TSM ADR cash dividend is. ----He said it was $.40 cents, or 40 cents per share of each TSM ADR share that we use.
There is a substantial difference between what Citibank said and that of my broker.
Can anyone from this board verify what the CORRECT dividend rate should be????
Ex-dividend Date 06/20/2006 Record Date 06/22/2006 (ADR); 06/26/2006 (Common Shares) Cash NT$2.4991 per common share NT$12.4955 (roughly US$0.39) per ADR Stock 2.99903% Payment Date On or about 07/14/2006 (Common Shares); On or about 07/19/2006 (ADR)
Thanks for that info on the dividend. I felt certain that the US $.40 dividend given by my broker was closer to the truth.
The figure (US $.32) given by Citibank was such a wide divergence from previous postings to this board, that I wanted to make certain. You would think they would know better, since they are managing the TSM ADR's. I've found out in the past, when there is a customer service problem, always get a couple of opinions to be sure.