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Help explanation on recent MPLX dividend payment


Robhalo

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Hi all,

 

So I hold 133 shares in MPLX LP and their recent distribution was $1.28 per share so I was expecting a payment of approx $170

At an exchange rate (give or take) of $1.335/ GBP this would mean a total of £127.

Applying a 15% reduction to this for the US/UK dividend withholding tax I was expecting in the region of £108 but received £79.98

Am I missing something here?

 

Thanks

Rob

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  • 2 months later...
4 hours ago, harpalss said:

Hey @Robhalo

Did you find out why you were over taxed in the end? or was the correct tax amount correct? Finding myself in a similar situation.

 

Hi @harpalss,

I believe that the stock is subject to 37% withholding tax hence the dividend received might differ from what was expected. Feel free to reach out to helpdesk.uk@ig.com for further assistance.

All the best - Arvin

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