It was Nordea that changed the time frame for refunding foreign withholding tax. Previously, depending on the month withholding tax was deducted, it took between 3-2 years before foreign withholding tax was refunded.
In 2018, Nordea started paying back the foreign withholding tax 6 weeks after the deduction was made. That was the only reason why we sold off large parts of our holdings at Avanza and Nordnet and moved the money to Nordea instead. Despite, mainly Avanza's, fantastic website with an unbeatable user-friendly interface.
In addition to the quick tax refund, Nordea is by far the fastest in paying out dividends. Yesterday we had the dividend paid for both Main Street Capital Corporation Common Stock (MAIN) and Fidus Investment Corporation Common Stock (FDUS) by Nordea. Which in practice means that we Swedish shareholders with holdings placed with Nordea get our dividends paid just one day after the actual payment date.
As the Swedish krona continued to weaken against the US dollar and the share prices of our planned acquisitions rose yesterday, we refrained from reinvesting these dividends for the time being.
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