Dude, this ADR fee is not charged by Computershare, it is charged by the new custodian. I got hit with a pretty steep fee as well so I contacted Veolia's Director, North American Investor Relations @ firstname.lastname@example.org and received a reply that Veolia changed depository bank in 2015 from Bank of New York to Deutsche Bank and the per share ADR fee to distribute the dividend increased as well as a $0.01 charge per share to do the tax reclaim process (for those who qualify) upfront was added. The real problem is that there is no transparency and by the time you come to know, it is too late. DB deducts it directly from your gross dividend. I am pretty #$%$ about it. All ADR holders in the U.S. should complain to the Company. We should not have to take this lying down. DB is ripping us off. I am still waiting to hear from Ms. Powers on follow-up query.
I recently received dividend from Veolia in my brokerage account and was shocked to see steep ADR fee amount. So, I called up my broker and was told that it was a custodian fee charged by the ADR Custodian. I googled and found contact info for the Director of North American Investor relations I received the following info from the Company contact.
"If you held your shares directly through the depositary you would have been informed of the change in depositary bank and therefore the increase in fees that resulted in that change as the depositary is required to do so for all registered holders. Because you hold your shares through a broker, i.e. not in registered form, you were not informed of this change (neither Veolia, nor the depositary have access to shareholder information via brokers). That said, following the delisting of the ADRs from the New York Stock Exchange at the end of 2014 and the subsequent deregistration with the SEC in 2015, Veolia did file an F-6 with the SEC informing the market of the change in depositary bank, which would have included a description of the applicable fees from the new depositary bank. Unfortunately, brokers wouldn't have communicated the change to you. The potential applicable taxes obviously have not changed with the change in depositary bank, those remain 0%, 15% (applicable to most Americans) and 30% (full tax rate). When we switched to Deutsche Bank last year, the new agreement instituted a $0.04 to $0.05 per share fee to process the dividend, with holders at the 30% applicable tax level paying $0.04 per share and holders at the 15% tax or exempt level paying $0.05 per share to take into account upfront tax reclaim processing. This year the fee remains $0.04 per share for all tax levels, while those at the 15% and exempt level also pay an additional $0.0075 per share fee to do the tax reclaim process upfront for those individuals is $0.0025 per share less than last year).