Dividends does not match what I should be getting

[jasear]

Hi Guys

I got a dividend from Energy Transfer (ET) at rate of $0.305 per share. I have 441 shares. This should equate to: $134.505.

IG used a currency conversion rate of: 0.81154299. Using this I should have got: £109.15658986995

Instead I received: £68.77. This is a reduction of almost 37%. On my IG statement I see this:

Energy Transfer Equity LP DIVIDEND 441@0.19215 Converted at 0.81154299.

Why does it say 0.19215? According to nasdaq:

https://www.nasdaq.com/market-activity/stocks/et/dividend-history

The payout was 0.305 per share. Can someone explain please where the 37% of my dividend payment has gone please?

 

[jasear]

Note: This is in my ig ISA account.

[jasear]

Anyone please?

[dmedin]

I reckon you should phone IG, be prepared to wait for hours as they are tight-4rsed and won't hire any new support staff.

[jasear]

Spoke to them. Because ET is an MLP there is a 37% tax.

Edited June 23, 2020 by jasear

[MrBR]

I don't know anything that has a 37% withholding tax. Bump a complaint off to Compliance. That's when they actually look at things instead of providing a 'could be right' sort of answer.