RE: RE: RE: Tuesday last day to buy before divi pa I am a german citizen living in different european countries this year, which a) probably don't have an agreement with Canada to withhold just 15% and b) put their own taxes on top of the canadian ones (some of which may be recoverable with significant paperwork in some countries but not in others).
The miniumum I currently pay is the 30% swiss dividend tax.
But even if it's just 15% canadian tax - why do they register (or whatever the term is) in Canada -even though they have nothing to do with Canada- instead of a country that has no dividend taxation.
That causes annoying paperwork at the least and huge taxes due to double-taxation at worst.
And anyway, if they had done a quiet buyback at $1 per share it would have resulted in twice as much added Mart-ownership-percentage as reinvesting dividends now, even if you assume just 15% dividend tax.
Since clearly the large majority of shareholders campaigned for dividends that means that a large majority has no interest in increasing their Mart ownership and therefore will not use their dividends to buy more Mart shares.