Vodafone / Verizon Sale

Drakon

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321
I've just been issued new Vodafone shares as part of the dividend reinvestment scheme. Will these be included in the bonanza?
 

Janet

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648
Article in the Irish Times today with more details of the share consolidation and sale.

So for every Vodafone share I have, I'll receive 0.026th of a share in Verizon. And then in a week or so, the shares I do have in Vodafone will be reconsolidated and for every 11 I hold, I'll receive 6 of the new shares instead.
 

harriet

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62
Stupid forms arrived this morning. Phoned to ask if I could fax completed docs to them and told "I'm afraid that isn't an option" - again just been told to complain.
 

Mayhem

Registered User
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1
Vodafone shares - income option rather than capital

Hi there,
Unfortunately for the Vodafone share election I chose the default option for receiving the payout as income rather than capital. I now realise that if I selected capital payment instead I would not have any tax liability. Does anyone know how much income tax I will be liable for in Ireland? I only have 280 shares, and currently working in the uk so don't pay tax in Ireland. I have in previous years declared and paid tax on Vodafone dividends, but since leaving Ireland for work I have not made any self assessment returns to the tax office- although dividend payouts have been relatively small. However I have made all property tax payments, so am keen to comply with whatever taxes I need to pay - just don't know what it will end up costing me? Am I able to avail of a tax credit or allowance? Any help or advice is much appreciated! Thanks
 

rayn

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197
Can someone please check these figures.
If I held 1100 vodafone shares and sold them prior to split at £s2.40 i would have got €3200
After split I get:
Cash €400 (1100*0.365c)
28 verizen shares @ 46$ = €938
600 vodafone shares @£s2.47 = €1800
Total €3138
I understand that values are changing all the time but am I doing things correctly?
 

Jpg49

Registered User
Messages
6
I opted for the capital tax option and sent off my forms on 14th February. This morning I received a letter, dated 25th. Feb. to inform me that they had received my form after 1pm on 20th. February and the default options will be applied. In other words the "windfall" will be treated as income for taxation purposes. I rang Computershare for an explanation and they placed the blame on the Royal Mail and there is nothing they can do. It would appear that 6 days are not sufficient to send a letter to England! Anybody else have a similar problem
 

Rah

Registered User
Messages
1
I sent my forms on 13th February and also received a letter on the 27th (dated 25th) which informed me that I had missed the deadline.
It is curious that a letter from Computershare could arrive back to me in 2 days while it takes more than 6 working days to send a letter to Computershare.
I returned my election form in the envelope provided but I am now wondering if this envelope was only to be used for the return of the proxy form and that perhaps this caused an extra delay for it to be forwarded to a different office. Bottom line however is that Computershare surely received the form in time just not in the correct postbox.
 

Tom E

Registered User
Messages
3
I've found their handling excellent.
You are one of the lucky ones. I have found them to be pretty pathetic. I think their call centre staff are under severe pressure as the two I have spoken sounded very tense and far from helpful. I also believe that they were giving out information that may be wrong and should be verified by the Irish Revenue beforehand.
 

TravisT

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34
Originally Posted by Belton
I've just been issued new Vodafone shares as part of the dividend reinvestment scheme. Will these be included in the bonanza?

There is no bonanza. How is there a bonanza?
 

Janet

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Messages
648
Article by Dominic Coyle in today's Irish Times: How to complain over Computershare handling of Vodafone payout

I haven't yet gotten a letter telling me my form wasn't received. I posted it from Germany on 14th February but didn't send it via courier as, given the amounts involved, that would have cost me about as much as I'm due to get back and I've already spent far too much on phone calls to Computershare anyway.
 

ClubMan

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43,858
I returned my election form in the envelope provided but I am now wondering if this envelope was only to be used for the return of the proxy form and that perhaps this caused an extra delay for it to be forwarded to a different office.
I posted everything back in the one envelope and had no problem.
I think I posted the stuff back around the first week of February.
 

ClubMan

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43,858
Can someone please check these figures.
If I held 1100 vodafone shares and sold them prior to split at £s2.40 i would have got €3200
After split I get:
Cash €400 (1100*0.365c)
28 verizen shares @ 46$ = €938
600 vodafone shares @£s2.47 = €1800
Total €3138
I understand that values are changing all the time but am I doing things correctly?
Assuming you sell your Verizon shares you should be getting about €1.24 per original Vodafone share between the return of value and sale proceeds of the Verizon shares. For some reason I only got the former lodged to my bank account so far but my Computershare investor account online seems to show that the Verizon shares have been sold...
 

rayn

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197
Thanks Clubman, funny how all media and "experts" called it as a windfall. It seems more of a consolidation, with little if any financial gain.
 

ClubMan

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43,858
Thanks Clubman, funny how all media and "experts" called it as a windfall. It seems more of a consolidation, with little if any financial gain.
Well Vodafone themselves call it a "return of value" which is accurate.

http://www.vodafone.com/content/dam/group/investors/downloads/vzw/vodafone_shareholderguide_101213_web.pdf

Anybody else in the same position as me - i.e. c. €0.365 per original Vodafone share paid to bank but no sign of the proceeds of the sale of the Verizon shares which should be another c. €0.875 per original Vodafone share? As far as I can see the latter should also have been paid today but maybe it's at close of business or something...
 

emeralds

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Messages
657
We got 3 payments to the bank today. €150.58 (twice for two lots of 420 shares) and €3.94 for 11 shares. So marginally less than we should have got? (at 0.365c per share)...
 
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ClubMan

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Messages
43,858
Sorry - €0.365 was from some recent article (Irish Times?) and based on exchange rates at the time. The actual € pay out may be difference due to change rate fluctuations since then. My actual payout per share was €0.3585. I'm just wondering when the proceeds from the sale of my Verizon share (CDIs) will be lodged as I thought it was today as well...
 

airgead07

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Messages
168
no correspondence received to date on this and no payment to bank account.

Check investor centre and there was a consolidation transaction on 24 Feb 2014. Payment Instructions were also updated on 21 Feb, not sure if this indicates my forms were received on time???
 
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