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One of the finest companies on AIm!
every time i read their rns they always seem to exceed expectations!!!
moving up nicely today ,
There has been a lot of talk about the UK / USA special relationship & the potential for a super-duper trade deal (Ha - HA !) yet the DTA remains in the Ark. This is a master/servant relationship where we are the servant.
Nonetheless hold Somero for capital appreciation. In the USA post-covid & post-Trump landscape they should thrive.
I think it must be to do with the particular broker/platform's policies.
My wife holds SOM via Charles Stanley and had the reduced rate of 15% on the latest dividend, despite not having filled in the W-8BEN form. Her holding isn't in an ISA or SIPP wrapper.
Guitarsolol,
Unsure whether a W-8BEN form is relevant as Somero is a UK listed company not a US one. Nobody has given me an unequivocal answer so far. Anyhow I did complete the form, but still received divi net of 30% withholding tax.
For a while yes, but not as long as your post might suggest. The buyback is a million dollars, not a billion.
The return of the share buy back. £49k spent out of the billion planned. Was that pounds or dollars? This will be my first last and only update on the buybacks...... And the currency is fairly academic. The floor will be £2.50 to £2.80 ish for this share for the forseeable. Something for the less racey part of your portfolio?
Thanks 3Putt,
I'm surprised HSBC didn't contact me when I purchased the shares a few months back. Perhaps they've been waiting for dividends to be paid.
My main concern is only that by benefiting from an American company (even if floated in the UK) their IRS somehow thinks it has a right to meddle in my financial affairs! I may just be being paranoid, but I've seen what they can do! I even fear for the few 100 dollar bills I have in my desk drawer!
Guitarsolo
I've held US shares periodically and first completed an W-8BEN form about 5 years ago so that I wasn't excluded from buying US shares trading on the UK market, had no problems at all and quite simple to complete (with HL), thereafter I just get messaged periodically if I want to continue each time it's nearing expiry. There is (was) no cost and I've found it a useful extension
Re W-8BEN forms
Dear All, I was just about to post an enquiry here and see that Libero beat me to it!
I own a small number of these in an ISA with HSBC. I'm aware they're an American company and that as a Brit I would need to complete a W-8BEN form to receive any income from a "US company" without withholding tax. To date, HSBC has not said anything possibly because the recently announced dividend will be my first dividend from SOM.
My question to other British shareholders is this; are there any downsides to completing a W-8BEN form and being on the IRS' "radar" as regards investments/income? I don't hold any other US-companies specifically because I have avoided anything to do with their long-reach! (I don't have anything to hide! I just don't want the hassle.)
Any comments would be much appreciated.
Guitarsolo
Yes I believe I did have to do something like that in the beginning as its a US share, and I think HL ask me to confirm update each year
Went to buy some shares this afternoon but was blocked because I apparently have to fill in a W8 Form (or something like that) - is that what everyone else here has had to do?
good strong afternoon ,as more read rns ,nice buying
like to see news of dividend ,nice rise today
Yes we should of found the bottom.nice mid to long term buy
.....the CV19 hit continues. However......
Still profitable and the cash on hand is the only figure not down by about a quarter. So the board are buying back shares again and reinstating the dividend. Some folks are going to like that a lot!
Are the company getting any work
Som
one of the finest stocks out there imho!
Thanks for the sympathy. I do have other other purchases at 150 and 180 so it tempers the pain. Nice to see your hope come true of closing above 300 as a well. Wonder if we will stay up here for long?
sorry to hear that. But this share is a long term hold anyway for divi alone.
How's about 384 my last buy price?
Over 300 by end of tomorrow? Any takers?
Average 230... Brokers giving 350-380 .... this should get above 300 plus dividend increase...
I sold my holding at the end of last week.
The company (and management in particular) are great. My decision was based on a simple risk/reward equation. I suspect that the cycle is indeed peaking now, or has already peaked. So there may be a little upside left here after a positive first few months of 2019, but not too much.
On the other hand any hint of stagnation in non-residential construction - which we may now be starting to see - or pessimism from investors, may see much larger downside.
I had a large holding here, so wanted to protect the 200% gain made to date.
Good luck to all here - now you'll probably see a bid at 450p!
Great to see the new Sky Screed high-rise product winning an industry award for Most Innovative Product in the Concrete Construction Equipment category:
Https://www.benzinga.com/pressreleases/19/03/r13346923/hanley-wood-announces-winners-of-the-2019-most-innovative-products