# TD Waterhouse - acronyms



## noviceinvestor (Jan 7, 2013)

I bought 100 units of Brookfield Infrastructure Partners L.P. (TSX: BIP.UN) prior to the ex-dividend date in May in my TFSA. Today, I received the distribution, and it appeared on the Activity screen as follows:


Trade dateSettlement dateDescriptionActionQtyPriceCommissionNet Amt30-Jun-1430-Jun-14BROOKFIELD INFRA PTNR LPUINTUS-100-$0.00$1.7830-Jun-1430-Jun-14BROOKFIELD INFRA PTNR LPUINT-100-$0.00$0.4730-Jun-1430-Jun-14BROOKFIELD INFRA PTNR LPUDIVFRG-100-$0.00$56.1630-Jun-1430-Jun-14BROOKFIELD INFRA PTNR LPUFEE100-$0.00-$7.93

I'm just wondering what these acronyms mean (INTUS, INT, DIVFRG, FEE).


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## Synergy (Mar 18, 2013)

Taking a stab at it:

*INTUS* - US interest earned
*INT* - CDN interest earned
*DIVFRG* - foreign dividend earned
*FEE* - fee / carrying charge applied

The good news is you don't have to worry about the breakdown of the distribution considering you're holding it within your TFSA.


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## donald (Apr 18, 2011)

I don't think divfrg means foreign dividend earned?how can it be if op is a canadian and buying a security on the tsx?Just blankly looking at this,this is a wired list of acronyms i have never seen anything like this with rbc direct when receiving a dividend,i know i get interests on my ipl.un mthly payer but that doesn't add up.
I am confused on the fee(is this a purchase fee for the shares or what?)


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## heyjude (May 16, 2009)

This security is listed on both the TSX and NYSE. It is generating income on both, as well as a dividend. There would have been a commission at the time the OP bought the stock, but that was last month. Since the dividend was foreign (US), tax would be withheld at ~15%. $7.93 is 14.1% of $56.16. So I wonder if The $7.93 might be the tax paid to Uncle Sam. But in my own TDW US Margin account, the code for withholding tax is WHTX02. So I would like to know. Why would there be a fee?


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## My Own Advisor (Sep 24, 2012)

That's my guess...$7.93 is foreign withholding taxes.


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## Synergy (Mar 18, 2013)

I think the "FEE" is separate from the withholding taxes. Something to do with an annual admin / management fee of 1.25%. Perhaps the OP is missing a line for the withholding taxes? The posted distribution should be net of the "FEE".


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## Woz (Sep 5, 2013)

I think Synergy's right. Fee is the carrying charges charged by Brookfield.

Here's the breakdown of BIP.UN's dividend: http://www.brookfieldinfrastructure.com/_Global/22/documents/relatedlinks/5684.pdf

Seems to match up with the breakdown of your distribution when converted to CAD.


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## MrMatt (Dec 21, 2011)

Woz said:


> I think Synergy's right. Fee is the carrying charges charged by Brookfield.
> 
> Here's the breakdown of BIP.UN's dividend: http://www.brookfieldinfrastructure.com/_Global/22/documents/relatedlinks/5684.pdf
> 
> Seems to match up with the breakdown of your distribution when converted to CAD.


Thanks for posting that, it seems quite confusing, anyone know a good explanation of what is actually going on? I am interested in BIP & BEP for my RRSP., and I'd like to understand the payments.


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## Synergy (Mar 18, 2013)

MrMatt said:


> Thanks for posting that, it seems quite confusing, anyone know a good explanation of what is actually going on? I am interested in BIP & BEP for my RRSP., and I'd like to understand the payments.


What are you confused about? The Fee? A past article may help:
http://seekingalpha.com/article/253...ty-packaged-with-the-tax-advantages-of-an-mlp



> One downside of its MLP structure is the fees paid to Brookfield Asset Management, the manager of the MLP assets. BAM collects annual management fees equal to 1.25% of BIP market value. In addition, BAM collects an incentive distribution based on quarterly distributions to unit holders. BAM collects 15% participation on distributions over $0.305 per quarter per unit and 25% participation on distributions over $0.33 per quarter per unit.


Perhaps the OP could contact TD Waterhouse to get a complete updated explanation on the distribution breakdown.


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## MrMatt (Dec 21, 2011)

Synergy said:


> What are you confused about? The Fee? A past article may help:
> http://seekingalpha.com/article/253...ty-packaged-with-the-tax-advantages-of-an-mlp


Yes, it always seems there are little "gotchas" that you have to consider.
Thanks for clarifying.


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## heyjude (May 16, 2009)

Thanks Synergy. I learn something new every day.


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