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An American Depositary Receipt (ADR) is a negotiable US dollar denominated certificate representing ownership of shares in a non-US company. AkzoNobel’s ADRs represent AkzoNobel’s ordinary shares deposited with the depositary bank, to underlie such certificates and carry the rights attached to them as detailed in the Depositary Agreement.
Holders of ADRs receive dividends in US dollars and have the right to vote on shareholder resolutions. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S securities by US investors. ADRs are also referred to as American Depositary Shares (ADSs), these terms are interchangeable.
Our ADR partner
AkzoNobel’s ADR program is sponsored by Deutsche Bank Trust Company Americas (Deutsche Bank).
What Deutsche Bank can do for you?
- Records and maintains the register of ADR holders
- Is the stock transfer agent
- Distributes dividends in US dollars
- Facilitates the voting process and the exercise of the voting rights of ADR holders at any company General Meeting, if permitted by the company and the Depositary Agreement
- Issues and cancels AkzoNobel American Depositary Shares (ADSs)
- Distributes AkzoNobel circulars and General Meetings (including Annual General Meeting) documentation, if applicable
Key ADR facts
Listing and trading
AkzoNobel ADRs are traded in the OTCQX platform, which is part of the OTC Markets Group Inc. (over the counter) market. The International OTCQX is a premium market tier which distinguishes leading international companies from other securities traded in the US OTC market.
Converting ordinary shares into ADRs must be done through a broker, investment advisor or directly through Deutsche Bank Trust Company Americas.
If you do not hold via a broker, bank or nominee, please contact our transfer agent.
Dividend and tax information
Dividends are paid in US dollars and are generally taxable, just like dividends on US shares. The AkzoNobel dividend is subject to a Dutch withholding tax of 15% of the gross amount. Under terms of the Convention for the Avoidance of Double Taxation Agreement between the US and the Netherlands, eligible ADR holders may reclaim 15%, thereby reducing their withholding tax to 0%.
ADR holders eligible for the refund must be residents of the US in accordance with the aforementioned convention. We advise you to contact your broker or tax advisor for more information and any applicable US tax forms.
If you would like to have your dividends paid directly into your bank account, and you are a registered holder, please use the Direct Dividend Deposit Authorization Agreement on AST’s website.