Quote:
Originally Posted by CRCRFT78
Greg, regarding Banco Santander, can you give us some insight about the ADR fees and how do they affect your overall ROI? Banco Santander has been a name I've been watching but being a newbie I want to make sure its something I understand before spending money on. Would this be stock to purchase for my IRA (my retirement) or my Schwab (money I have no attachment to if lost) account.
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ADR's --- American Depository Receipts
There are fees associated with any ADR -- by the institution that holds the underlying securities...
So here's what that "dividend" payment looks like for Banco Santander (STD) the last time I got a dividend. I actually had a position in this name - then sold it - and waited for a little better news on the euro debt crisis -- then have scaled back into it just in the last month or so.
05/09/2011 STD BANCO SANTANDER SA ADR FSPONSORED ADR
type:
FOREIGN TAX PAID
-$322.64
05/09/2011 STD BANCO SANTANDER SA ADR FSPONSORED ADR
type: QUALIFIED DIV
$1,698.13
So as you can see -- the $1700 dividend was actually $1400.... and I'll claim the foreign tax paid on my income taxes.
I like the dividend on this bank over other banks - and I don't expect the name to turn around over night. Some times you have to have a brass set to own some of this junk. I fortunately can buy stuff like this... not sure anyone else should be. It's high risk.