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Hi clifp !

I understand there is an additional distribution for non-residents, but isn't that distribution basically offset by the 15% withholding by the NZ goverment which we don't get back?

So my question is don't we actually see 85% of $2.78 ~= 2.40? So for purposes of comparing NTZ yield with other investments should we ignore the supplemental distribution?

In a word - Yes.

As I understand it, one should count only what one can stick in one's pocket. When calculating the dividend return, one should use only the amount that we actually get to keep. ie: If they pay a dividend of $3million per share and because of taxes we get to keep only $2.78, then the dividend return is $2.78/share price ... NOT $3million/share price. The $3million looks good but the $2.78 is the actual dividend.
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