Help explanation on recent MPLX dividend payment

[Robhalo]

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

[AndaIG]

Hi @Robhalo

Thanks for the query. 

Our helpdesk would be able to provide assistance here. You can email helpdesk.uk@ig.com or call 0800 409 6789 / +44 (0)207896 0079. You can also use our live chat service. 

All the best, 

Anda 

[Robhalo]

Thanks Anda,

 

I have emailed and awaiting repsonse.

 

BR

Rob

[harpalss]

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.

 

[ArvinIG]

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