Got three letters from HSBC outlining scrip charges. I'm a bit confused as to what i'm being charged for. All three for Chinese banks (H-Shares).
The gist (for CCB):
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WE TODAY DEBITED YOUR ACCOUNT xxxx WITH HKD 75.00 BEING SCRIP FEE ON
BOARD LOT SIZE: 1,000
SHS 50,000 MADE UP AS FOLLOWS:
PRESENT HOLDINGS : SHS 50,000
LESS PREVIOUS HOLDINGS : SHS 0
(BOOK CLOSED DATE 23FEB2018)
NET INCREASE OF SHARES ARE SHS: 50,000
NET INCREASE OF BOARD LOT ARE: 50
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I gather the ex-date passed in July, whereas I bought these shares in June so should be eligible for cash dividend. However with my other shares I just get a notice after the fact, with a summary of amount credited minus HSBC commission (the usual 0.5%).
For these H-Shares ... they've already debited a scrip fee, whereas dividend is payable early August. Also i'm expecting cash and not scrip (unless i'm mistaken).
With the summary above... sure, net increase of board lots is 50 but that's because I purchased them!! And of course that means i've already paid the associated fees at the time of purchase.
Any ideas what this $75 is for? ($225 / $150 for the other two).