I am trying to figure out where to screen best for ex dividend dates of US Stocks at the moment.
The idea is to implement a dividend capture strategy, and I therefore need a screen with the following data:
Company Name, Stock price, Market Cap, Dividend Yield %, ex dividend date and dividend amount paid.
There are many sites that provide part of the information, but none have the complete overview.
Until now, I use a combination of Yahoo Finance and Marketchameleon, but none of these websites seems to provide a for my requirements suitable configuration.
Out of curiosity whatâs the advantage of the strategy, even assuming markets are not efficient and the stock drops by less than the dividend, isnât it a loss when adjusted for taxes (dividend are taxed, capital gains usually arenât).
After doing a little digging, I found that the TWS from IB actually provides a lot of data, so I will try to configure that one according to my wishes.
@nabalzbhf I use the dividend capture strategy only together with Covered call writing, so you can exploit remaining time value or early assignment to increase the ROI for the position held during the time of the CC
Regarding taxes:
This is a common misunderstanding:
On IB, you can sign the W8BEN form, so you get taxed only on 15% of the dividends from US stocks.
In addition, when you do your taxes here in Switzerland, held US stocks are automatically transferred to the DA1 form (at least when you do it electronically), where you basically get the other 15% of the withholding tax back.
There are other threads in this forum on this topic.
Not sure this âgetting backâ is the correct wording in general - the dividends are still taxed as per your income tax rate, and this way it just gets ensured you donât get taxed twice for the same income/dividend.
Exactly, dividend in Switzerland count towards your total income and are taxed together with your salary etc. Capital gain are never taxed, you only incur in the wealth tax at the state of you wealth the 31st of December.
It would make much more sense to write covered calls without catching the dividend if a comparable ROI could be achieved over the same time.
As far as I know profits from writing covered calls on stocks you own would fall under cap gains, correct?
How big is the income tax on dividends? Around 20-35%?
Even with 35%, the dividend capture strategy can make sense if a) the stock is assigned early or b) the ROI is better than with no ex dividend date prior to expiration of the call.
Anyhow, I will start to make my calculations including the dividend tax.
Doing such advanced measure may or may not cause the tax office to consider you a professional trader. If thatâs the case, than any income due to trading activity may be considered income as subjected to income tax.
This is usually the case if you are generating more than 50% of your total income with trading activities, even capital gains.
If itâs a smaller amount you may be fine, but is at discretion of tax offices.
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