TDDI Charges Fee for Foreign Dividend

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aloe
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TDDI Charges Fee for Foreign Dividend

Post by aloe » 15 Sep 2017 19:33

Anyone else notices that TDDI has a fee attached to some foreign dividend received? Specifically, my BT(British Telecom) has a fee per US$0.02 per share and GSK has a fee of US$0.005 per share.

I am planning to open a new iTrade account at Scotia. Anyone knows if there is such fee there? I am thinking to transfer $250K from TDDI to get the free Flightdesk Premium. Thanks.

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adrian2
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Re: TDDI Charges Fee for Foreign Dividend

Post by adrian2 » 15 Sep 2017 22:27

aloe wrote:
15 Sep 2017 19:33
Anyone else notices that TDDI has a fee attached to some foreign dividend received? Specifically, my BT(British Telecom) has a fee per US$0.02 per share and GSK has a fee of US$0.005 per share.
What's the description of the "fee"?
Have you asked them to explain it?
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jeremy
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Re: TDDI Charges Fee for Foreign Dividend

Post by jeremy » 16 Sep 2017 00:10

Sounds like ADR fees. They are charged by the depository bank (not TD) to cover the costs of administering the ADR. I'd expect that these fees would be charged at other brokerages.

aloe
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Re: TDDI Charges Fee for Foreign Dividend

Post by aloe » 17 Sep 2017 01:14

adrian2 wrote:
15 Sep 2017 22:27

What's the description of the "fee"?
Have you asked them to explain it?
It just says "Fee" in "Activities". I have never called them about this since there is no chance to avoid it.

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AltaRed
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Re: TDDI Charges Fee for Foreign Dividend

Post by AltaRed » 17 Sep 2017 11:18

If it is as Jeremy says, perhaps all brokerages do it. Why not phone them?
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westcoastfella
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Re: TDDI Charges Fee for Foreign Dividend

Post by westcoastfella » 18 Sep 2017 14:05

I suspect this is ADR fees. Questrade also charges them, at dividend time for my ADR holdings.

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