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the shares you own will consolidate so It is too good to be true, the dividend is wiped out. Because for every 19 shares you own they will change them to 15 when consolidated. And even worse if you have used your £2000 tax free dividend allowance for the year you will pay tax on the dividend that you get.
Surely this seems to good to be true.
S/P 250p for rounding sakes..
If I hold 1000 shares
I will get £500 pounds for free and 1000 shares.
Where is the catch??
quelfromage1, Thanks for that info.
Whoops I'll get that one deleted
robleo, rather than "not true" (I misread your question) "no", no tax to pay in a SIPP
quelfromage1 not subscribed to the ft
Many thanks for the reply. I'll keep a look out for mine.
robleio
Not true I think see:
https://www.ft.com/content/97bf7a43-81a4-46ff-b4a9-5bfe4c7773b3
Well obviously if held in an ISA or SIPP as I do there is no divi tax. But even then it seems to me of no benefit whatsoever.
I can buy back the 4/19 shares that have been taken away with the 50p per share I'm given then I'm roughly back where I was before all this messing about? Or am I missing something here?
if this held in a sipp will you pay tax on this dividend thanks
Yep
Just to be clear I hold £27,500 atm after this SD I will hold roughly £22,000 and have a dividend of £5,500 which is taxable am I right?
"Tesco plc wants to pay shareholders some of the proceeds from the sale of its Asian businesses.
This will be a one-off payment, called a special dividend, of 50.93p for each share held at the end of 12 February 2021.
When a company pays a dividend, it’s normal for the share price to drop by the same amount. Tesco wants to keep the share price roughly the same before and after it pays the special dividend. To do this Tesco will reduce the number of shares every shareholder owns. Shareholders will get 15 new shares for every 19 shares held. This won’t make a difference to the overall value of your holding – the total value of your new Tesco shares plus the special dividend should be similar to the value of your current holding. "
Anyone know why they want to (try to?) keep the sp the same?
@jmp500
My HL voting instructions have just landed.
I've received my voting instructions for my wife's Tesco shares held on the AJ Bell platform. But I haven't received my voting instructions yet for my Tesco shares held on Hargreaves Lansdown. Anybody with Hargreaves had their voting instructions come through. Thanks in advance for any replies.
Quizzer
You will lose the SD requirements to be invested on the 11th of Feb. So you will not get any payment.
So if I sell my shares before Feb 9th will I still be eligible for the divi.Just checking
Restructuring debt. Further steps to reduce outgoings.
Gavster
yes, Tesco holding their own while others are slipping back, I hope now the FTSE bounces back a bit and Tesco gains a bit more. . I live in hope ..
Gavster
Have to say I was a little surprised to see the sp up during the first hours trading. Despite the company being a defensive investment it is being caught up in the market selloff.
I believe there is some confusion in the discussion between Market Capitalisation and Net Asset value.
There is a good argument that these trend towards each other, but not always, and not if the company is paying dividends, where the value of the company is more indicated by yield and the P/E ratio.
Tesco SP would be beyond 250 were it not for the market being hammered. FTSE down 200 last two days.
IMO
and expected future profitability of Tesco should be measured against a market cap of £19 Billion rather than what it is currently, to give anyone a true picture of whether there is value in Tesco at the current level.
trb
''with regards to the tax implications''
and what are they?
Surely, the- 2bn cancellation of shares means Tesco is a tighter Market Cap outfit going forward for the next 10 years , less surplus shares slugging around and more demand ! - after disposal - obviously and a more attractive option after settling the Pension Deficit for some years. As Paul Young said , the tighter the fit, the closer the knit. GLA I'm in have been for a while. LTH IMO GLA