TUI Dividend

[NeilW]

Apologies if this has been posted previously. I couldn't find anything with search.


*DIVID*

The Executive Board and the Supervisory Board are recommending a dividend of
63 cents per share (2014/15: 56 cents per share) in respect of the financial
year 2015/16. Subject to approval at the Annual General Meeting on 14
February 2017, the dividend will be paid to shareholders on 17 February 2017
to holders of relevant shares at close of business on 14 February 2017.

[Instep]

Apologies if this has been posted previously. I couldn't find anything with search.


*DIVID*

The Executive Board and the Supervisory Board are recommending a dividend of
63 cents per share (2014/15: 56 cents per share) in respect of the financial
year 2015/16. Subject to approval at the Annual General Meeting on 14
February 2017, the dividend will be paid to shareholders on 17 February 2017
to holders of relevant shares at close of business on 14 February 2017.

I'm not sure where this quote came from. Has anyone seen any more recent news? I was expecting this dividend on Friday 17th.
Regards
Instep

[monabri]

The Hargreaves Lansdown site reckons it should be 17th but the TUI site says it only went ex-div (XD) on 15th Feb. Looking at previous info on the "lag" between the ex div date and the pay date (about 1 week) I'm GUESSING that you might get your hands on the divi on 22nd ?

[Instep]

The Hargreaves Lansdown site reckons it should be 17th but the TUI site says it only went ex-div (XD) on 15th Feb. Looking at previous info on the "lag" between the ex div date and the pay date (about 1 week) I'm GUESSING that you might get your hands on the divi on 22nd ?

Thanks monabri. It's a shame that the company don't publish the pay date on their own site.
http://www.tuigroup.com/en-en/investors ... l-calendar
Everywhere else that I looked said the same as Hargreaves Lansdown, including dividenddata.co.uk which still claims pay day on 17th.
http://www.dividenddata.co.uk/ex-divide ... chTerm=TUI
.... Reminder to self. Just be patient.

[PinkDalek]

The Hargreaves Lansdown site reckons it should be 17th but the TUI site says it only went ex-div (XD) on 15th Feb. Looking at previous info on the "lag" between the ex div date and the pay date (about 1 week) I'm GUESSING that you might get your hands on the divi on 22nd ?

Thanks monabri. It's a shame that the company don't publish the pay date on their own site.
http://www.tuigroup.com/en-en/investors ... l-calendar

The relevant dates (as per the OP) were included in the TUI AG: Annual Financial Report - Part 1:

http://www.londonstockexchange.com/exch ... 59882.html

Subject to AGM approval which took place on 14 February 2017:

http://www.londonstockexchange.com/exch ... 28561.html

[monabri]

It does say the 17th !

DIVIDEND

The Executive Board and the Supervisory Board are recommending a dividend
of 63 cents per share (2014/15: 56 cents per share) in respect of the
financial year 2015/16. Subject to approval at the Annual General Meeting
on 14 February 2017, the dividend will be paid to shareholders on 17
February 2017 to holders of relevant shares at close of business on 14
February 2017

[PinkDalek]

It does say the 17th !

Echo viewtopic.php?f=15&t=2731&p=25434#p25434

However, as per your earlier reply, I wouldn't have expected to have received the dividend immediately.

[NeilW]

This is the reason I've binned TUI. Can't be doing with the hassle and the withholding tax.

[Aprilfool62]

23rd Feb and still no dividend. Also they have gone from paying twice yearly to once. I know it shouldn't make a difference but I get excited over my dividends, particularly as I mainly live off them. Maybe it'll arrive tomorrow.

April

[MDS1951]

I had a look at last year's dividend advice note from the Halifax re Tui, and it took something like 10 days for it to arrive from the announced dividend date. So I'm expecting it early next week.

I don't think it says all that much about Tui's attitude to its British shareholders - not even an announcement to the London Stock Exchange about the amount of the dividend in Sterling. However, I can put up with that as long as the share performs OK.

MDS1951

[Instep]

23rd Feb and still no dividend. Also they have gone from paying twice yearly to once. I know it shouldn't make a difference but I get excited over my dividends, particularly as I mainly live off them. Maybe it'll arrive tomorrow.

April

Tomorrow seems to have turned into next month!
Still not arrived.

[Instep]

Tomorrow seems to have turned into next month!
Still not arrived.

Spoke too soon!
Surprise - surprise. Some dividend arrived today.
Youinvest have credited a payment today based on GBP 0.533925 per share, but they have deducted about 26% tax (in a SIPP)
So the expected yield of 4.9% turns out to be more like 3.6%.
Nothing has turned up yet in the TD Direct ISA account.

This is the reason I've binned TUI. Can't be doing with the hassle and the withholding tax.

Maybe NeilW had it right.

Instep

[jimleigh]

Youinvest have credited a payment today based on GBP 0.533925 per share, but they have deducted about 26% tax (in a SIPP)
So the expected yield of 4.9% turns out to be more like 3.6%.

Me also, I had wrongly assumed I had been getting the yield quoted in the top-up spreadsheet. Think It's time to sell and move on, while I am still ahead on the capital invested.

[PinkDalek]

Youinvest have credited a payment today based on GBP 0.533925 per share, but they have deducted about 26% tax (in a SIPP)
So the expected yield of 4.9% turns out to be more like 3.6%.

The withholding tax is mentioned here on page 23:

http://www.tuitravelplc.com/sites/defau ... _TUIAG.pdf

It includes:

"Generally, under German tax law, upon a distribution of dividends by TUI AG, withholding tax at a total
rate of 26.375% (Kapitalertragsteuer of 25%, plus a 5.5% solidarity surcharge thereon) of the gross
dividend will be withheld. For dividend distributions to TUI AG Shareholders who are not resident for tax
purposes in Germany, the withholding rate may be reduced in certain circumstances. In such
circumstances the withholding tax is reduced through the German tax authority refunding to such TUI AG
Shareholders not resident for tax purposes in Germany the difference between the total amount withheld
and the maximum amount permitted to be withheld under the applicable double tax treaty (generally 15%
in the case of the treaty between Germany and the UK) upon application to the German tax authority."

That explains the 26.375% withholding but, as you'll note, doesn't mention pension schemes and I was under the impression such pension schemes should be entitled to a total or partial exemption from German tax on dividends paid by German companies in view of the Double Tax Agreement*** between the two countries.

How you go about reclaiming the withholding tax, if you can not being the legal owner, on holdings within a SIPP is unknown to me (I've been looking today re Switzerland) but, as far as I understand, this is not something upon which YouInvest can or do assist. Especially if they are not a qualified intermediary.


*** Maybe Article 10 on page 18 is relevant (no time to look further) https://www.gov.uk/government/uploads/s ... d_2014.pdf

[Instep]

... snip...

That explains the 26.375% withholding but, as you'll note, doesn't mention pension schemes and I was under the impression such pension schemes should be entitled to a total or partial exemption from German tax on dividends paid by German companies in view of the Double Tax Agreement*** between the two countries.

How you go about reclaiming the withholding tax, if you can not being the legal owner, on holdings within a SIPP is unknown to me (I've been looking today re Switzerland) but, as far as I understand, this is not something upon which YouInvest can or do assist. Especially if they are not a qualified intermediary.

*** Maybe Article 10 on page 18 is relevant (no time to look further) https://www.gov.uk/government/uploads/s ... d_2014.pdf

Thanks for the links Pink Dalek. I haven't the time to digest the government link!
I will wait and see what happens to the TDDirect ISA holding, but I think it's time to forget about TUI and move on.

Instep
Still holding - I'm usually a very slow tinkerer.

[moorfield]

TUI Travel is also in the news this week for the wrong reasons, following the inquest into the Tunisian beach shootings. Victims' and survivors' families are now pursuing civil action against the company.

Which (in my mind) leads to another question:

Do ethical HYPsters continue to hold for the dividend, or add to the banned list (with BAE, BATS) and sell?

[MDS1951]

The TUI dividend after the German withholding tax for 2015/16 is 39.539468 p.

As to the Tunisia business, I noticed that the BBC report said

Families had wanted the coroner to consider whether neglect by holiday firm TUI or the hotel owners was a factor in their relatives' deaths.

But he told them he could not because the law regarding neglect did not cover tourists who voluntarily agreed to go on holiday.

So we must await the outcome of their court action to see if TUI have been deemed to be at fault.
MDS1951

[Aprilfool62]

Dividend finally arrived today in my HL account. I'm not sure whether to keep or sell, as I don't have anything else in that sector. Re the civil action by the families - Really? Isnt every tourist spot a possible target these days.

April

[StepOne]

Dividend finally arrived today in my HL account. I'm not sure whether to keep or sell, as I don't have anything else in that sector. Re the civil action by the families - Really? Isnt every tourist spot a possible target these days.

April

Yes everywhere is a possible, but I think the question they will be asking was whether Tunisia was a likely target. Either way, ethically I don't think it puts TUI in the same basket as Defence or Tobacco just yet!

StepOne

[jimleigh]

Thank you to every one how mentioned the withholding tax. I have now sold my SIPP holding of TUI AG and invested the proceeds in Galliford Try in the hope of boosting the dividend.