A friend in the States has asked me the below question which I do not know the answer to;
I have not been able to find a clean explanation of the taxes levied against my Westpac ADRs (symbol WBK on NYNEX). The forward dividend for Westpac (to Australians) is predicted to exceed 5% per annum. For direct holders in Austalia the return is fully franked at 30%. Do you believe the dividend paid to owners overseas has had the 30% Franking?
thanks in advance
regards
John
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