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Banco do Brasil S.A. Message Board

biloselhi9 5 posts  |  Last Activity: Feb 28, 2014 10:51 AM Member since: Jul 29, 1998
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  • biloselhi9 by biloselhi9 Feb 28, 2014 10:51 AM Flag

    I bought some RBSpP several years ago at about the current price. I rode it all the way down, continued holding during the 2 year dividend suspension, then rode it back up. I'm now at a break even plus received the dividend except during the suspension period. I'm trying to decide whether to sell it now.

    I have enough difficulty understanding the American banking industry let alone the British banking industry. What I am trying to do is to estimate how likely (or unlikely) is the event of another dividend suspension. Any considered opinions on this possibility would be welcome..

  • Reply to

    Dividend received yesterday, but..

    by biloselhi9 Feb 11, 2014 10:42 AM
    biloselhi9 biloselhi9 Feb 15, 2014 11:10 PM Flag

    nyjets - You are a fund of information, thanks. It looks like you and I are the only ones on this board. Your comment about the 2 cent bank charge sounds small until you notice that the dividend was only $.393 That works out to about 5% of the dividend. And you are right.....what do they do for it and why does it take them a week to do it....I mean I doubt that they bundled a trunkload of quid and plopped it on a cargo ship. More likely some functionaire presses a button in London and a credit appears in a bank in NYC. And I don't even want to think about what the markup is that they charge for going from pounds to dollars..

    But one good thing is that we don't have foreign tax withheld on dividends; I believe that is because of a UK/USA treaty. I'm pleased that in this case we don't have to mess with a foreign tax credit.

    On another matter, have you owned UU a long time? I have. I remember that in July 2008 there was a "17 for 22" reverse stock split followed by a $6.75 special dividend. What I don't remember is why. Was there some kind of spin-off or something and they paid the cash out to the shareholders? The $6.75 was in the 2008 1099 as a dividend so I paid tax on it. I assume then that there was no tax basis downward adjustment for some kind of return of capital.....like I said, we paid our tax at that time.

    Your thoughts?

  • Reply to

    Dividend received yesterday, but..

    by biloselhi9 Feb 11, 2014 10:42 AM
    biloselhi9 biloselhi9 Feb 15, 2014 1:40 PM Flag

    Thanks for the info nyjets. Not knowing much about the regulatory scheme in the UK, and the size of rate increases allowed, it's difficult to assign probability to any kind of merger. I notice that Severn Trent plc has a market cap of twice United Utilities. I also did a chart comparison of svt.l vs. uu.l for the last year. svt outperformed by a considerable margin and has a market cap about twice as large. svt did spike last May and promptly dropped back again a few weeks later. Apparently they do have some ADRs trading under the symbol SVTRF but the volume traded is spotty.

    Again, perhaps one of our UK board users could shed some light on the recent British regulatory climate in general and United Utilities in particular.

  • ..the share price has been making a strong upward move. Is anyone else following it out there?

  • Reply to

    'Spin off' to unlock value

    by winmore_98 Jan 27, 2014 9:25 AM
    biloselhi9 biloselhi9 Jan 27, 2014 9:38 AM Flag

    Check the news item of 2 weeks ago where Zack's calls RYN "bear of the day". Gives it a rating of "5" which is a "strong sell". Tell, me does anyone actually pay Zack's for advice which is completely wrong?

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