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Just e.mailed Medic X and they were very helpful (although can't give official advice of course). If the shares are in an ISA, the broker should have registered them as such and would have been paid tax free. So it is now down to the broker to reclaim the tax paid from the company.
I did a lot of googling yesterday about this and I don't believe this. Quotes from various pages I found - .....If you hold a REIT in an ISA it is completely tax-free. The REIT is exempt from corporation tax and the investor doesn�t have to pay tax on dividends because of the ISA wrapper ....You do not pay tax on PIDs held within tax sheltered accounts.However, unlike ordinary dividends that are paid gross (i.e. with no tax deducted), PIDs are generally paid with 20% tax deducted.This means the tax already paid needs to be clawed back.Your tax-sheltered account should be issued with a 20% tax credit associated with your PID income, which the company that runs your ISA, CTF or pension should use to reclaim the tax paid from the taxman. Do watch to ensure your PID tax is being reclaimed by your broker, as sometimes they forget. It can take 4-6 weeks after the PID is credited to your account for the reclaimed tax to turn up as cash. I�ve heard that brokers can ask for PIDs to be paid gross to shareholdings in tax shelters, but I�ve no knowledge as to how widely this is being done.
Discovered that now they have UK regd REIT status, one divi will be on earned income and be paid gross to your ISA, the other will be on property income and be paid net of tax, even to your ISA!
Just to clarify - in an ISA you should have received two dividends last Thursday of 0.755p each. Those of us who have wrongly paid tax will have received one of 0.755p and one of 0.604p. - which is the tax taken off the PID part. This quarterly dividend will comprise 50% (0.755p) Property Income Distribution ("PID") and 50% ordinary dividend (0.755p).
Well it is a growing sector with PHP currently raising money for further acquisitions and Assura also in the same market. Some of the warehouse type REIT's seem to make their money by selling properties between themselves for ever increasing sums. Probably will come tumbling down one day, but then again, everything I invest in always does.
This is surprising considering the high yield and the property backing. I can think of two possible reasons: 1) MXF does all this by being highly geared. Borrowings are around 50% and each time they expand, so does the debt. Fine in a good market. If MXF is forced seller, who would buy and would they make a profit? 2) Perceived political risk. I don't see it (Possible Labour government never raise enough to nationalise these). Nevertheless some feel it is a reason not to hold. On the other hand, you can argue this is the perfect time to buy - virtually no premium.
I have just checked my ISA holding and have had the divi paid in TWICE, once gross and once net!!! Will advise my platform tomorrow. Medicx have problems this time round! Thanks for alerting me.
Finally received my dividend today - with tax taken off. Still waiting for my broker to something about the Warehouse Reit divi from three weeks ago. This is starting to get annoying, might have to rethink where I invest my next ISA money. These REITs are worthwhile if we get the full dividends, otherwise they are not.
Definitely get in touch with your broker. It's times like this you find out if they are any good or not. I am expecting the same problem as you. I had 8 dividends all paid on time on Thursday, but not MXF, which isn't a good sign.
adv11 - Thank you very much for your answer. I find it all a bit baffling, I have been receiving divs every 3 months from Medicx and this is the first time it has happened.
If they are in an ISA you shouldn't have the tax deducted. I have just had a similar experience with Warehouse REIT. A nightmare to explain to my broker, but they claimed it was the companies fault for their failure to take notice of a request to pay the dividend without tax deduction. The broker then has to put in a claim, but I can't say I feel confident. I have quite a few REIT's in my ISA, and this is the first problem. Having said that, I haven't received yesterday's Divi yet.
Could somebody please explain to me why half of my divi has a deduction of 20%. I hold 12000 shares and I received two entries on my Isa account one for 12000 shares �90.60 and the other for12000 shares �72.48
Think this is a share to put away for a while. No quick profits here!!
Do not understand why SP falling still. Divi is safe and there is no risk this type of investment is likely to be curtailed even if there is a Labour govt. Assume it is just weak market.
Price here is at new low for variety of reasons and figures due out 12th of this month. Not helped IMHO by the divi never being fully covered although it did not stop shares in past. Politics has hit all infrastructure cos and slight increase in base rate. Some long-termers are actually topping up so my attitude, as with all my infras, is tuck away the divis, grind the teeth and hope Mrs May convinces the EC mob that they won't get a farthing of the 50 billion if they don't help to move her on past Stage 1. My belief is that infras in particular will bounce IF that is sorted.
Questor MedicX offers 7pc dividend income from infrastructure The fund invests in a portfolio of GP surgeries across the country that generate healthy dividends from rental income, says Questor 09 Dec 2015 |
built on a debt pyramid but at only 4.35 per cent average. Dividends are generous and comes from NHS rents. NHS pays but will the cash stretched NHS be able to pay increases ? Stock well above NAV.
Company bought 1 million shares from Treasury. Obviously they are generating cash somewhere. I keep 300 only as my mystery hold -only a miniscule quarterly payout ! Any reason to be brave at this price ?
How is the divi 5.70 when the earnings only 3.60 per share. On a P/E of 23 I do think one should ask but I am not knocking this I have a few !
This seems to be a predictable share looking at the 5 year chart. Get divis too. Nice buys today. Anyone got an opinion on this quiet one?
16 October 2013 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") Sale of GP Surgery, Wheathampstead MedicX Fund, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce that it has sold a GP surgery in Wheathampstead, Hertfordshire. The total consideration received was GBP600,000, being above the property's valuation as of September 2013. The MedicX Fund's total property portfolio now comprises 122 properties throughout the United Kingdom of which 110 are complete and 12 are under construction. The annualised rent roll for all properties is now GBP28.8 million. - End - For further information please contact:
20 September 2013 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") GBP25 million revolving loan facility MedicX Fund Limited (LSE: MXF), the specialist primary care infrastructure investor in modern purpose-built primary healthcare properties in the United Kingdom, is pleased to announce that it has completed a GBP25 million revolving loan facility with The Royal Bank of Scotland Plc. The facility is for a three year term at a rate based on a margin over LIBOR, set dependent on group loan to value. At current rates the facility is expected to cost approximately 3%. The Fund has GBP279.7 million of other debt facilities with a weighted average fixed cost of 4.45% including undrawn amounts, with an average remaining term of 15.9 years. David Staples, Chairman of MedicX Fund, said: "I am delighted to announce this new debt facility. This complements MedicX Fund's existing long term debt facilities and enables us to commit to investments without putting fixed term debt in place on day one. The facility will then be drawn to fund further commitments and repaid on any future fundraising, enabling the Fund to manage its cash more efficiently." - End - For further information please contact: MedicX Group +44 (0) 1483 869 500 Keith Maddin, Chairman Mike Adams, Chief Executive Officer Mark Osmond, Chief Financial Officer MedicX Fund Limited +44 (0) 1481 723 450 David Staples, Chairman Canaccord Genuity Limited +44 (0) 20 7523 8000 Andrew Zychowski / Lucy Lewis Buchanan +44 (0) 20 7466 5000 Charles Ryland / Sophie McNulty Information on MedicX Fund Limited MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") the specialist primary care infrastructure investor
Todays RNS seems to tell me that shares have been sold but voting rights increased! How does this happen?
I kept this for a while -decent divi - but their portfolio nothing special -they are paying a lot to buy out another compsany with a poor yield and it impresses me not one bit. If they were good they would buy their own stuff. At this stage we need to put our money in better places than this -should be a tradeable BIG CORRECTION !!!!i
Not wishing to knock this as I'm in -and looking to add later. Anybody any opinion about the earnings per share of 4.27p and a dividend of 5.46p I am aware that there are different explanations like for example diluted and undiluted that clear up misundrstandings .