The only point you missed is whether paying above conversation values worth it or not because as I explained if you pay above conversation values then you paying for the dividend that comes out of your pocket and then pay tax on it as well. So obviously you need to wait to for UUUU goes above $5.84 USD plus FX rates difference to work in your favour and documents you need to justify ATO is another complications.
so in above scenario if you pay above 21.5c then the remaining pay will be simply buying your own money back and pay tax on it so 21.5c + 6.5c = 28c but you pay 26.5c so you
only benefit is 1.5c but you pay tax on total 6.5c dividend you received and hence your net profit if any will be 1.5c - tax on 6.5c plus p&l on capital gain/loss.. ! But if company paying 6.5c as return of capital then probably tax calculation changes.
p&l will have two component one capital gain/loss and income. so 6.5c will be taxed as income while your 21.5c will be used for capital gain/loss on the basis you buying UUUU as $5.84 USD @64c FX rates ! So at the moment one will be in loss because UUUU is $5.62 but obviously your tax obligations only calculated when you sell unless you are corporate and pay tax in advance.
for those going to stick around your calculations will be based on your avg. Purchase price so don't matter what current price is.
i am only exposing those smarty pants above who keep talking about 6.5c dividends but not realising themselves probably on tax implications paying above conversation values..!
but as you bought and paid above current market price then it will be different way that you calculate your p&l.
Talk to your accountant before buying and selling as it isn't going to be straight forward with this type of transaction and my explanation may be wrong so check again!
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