ANZ Bank NZ Ltd Perpetual preference Shares (ANBHC) rate has been set at 6.95%
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ANZ Bank NZ Ltd Perpetual preference Shares (ANBHC) rate has been set at 6.95%
I see on the final terms sheet that the distribution amount (6.95%) will comprise cash and imputation credits - together they make 6.95%. Does that mean the payout will be less than 6.95% until you claim the imputation credits from IRD?
Yes, gross % is 6.95%.
Distributions will be less the imputation credit.
Then there will be a tidy-up at tax time when the imputation credit will be off set against your tax owing (depending on your tax bracket/tax you owe/other credits/etc).