I'm considering adding a few ADRs to my swing trading watchlist. Up until this point I have avoided them, but I'm running across a few that look very interesting. I know that the issuing bank usually charges a fee of a few cents per share, either taken out of any dividends paid or in the form of a periodic charge. I understand the fee taken out of the dividend, but I haven't been able to find a clear answer on how the charges are assigned.
Can I avoid the fee if I don't hold at ex-dividend? If it doesn't pay a dividend and there's a periodic charge, how is it assigned? Recurring fee? Annual fee? Is it prorated based on your holding period?
Also, is there a consistent place where I can find the specific dividend fee or charge amount? Sometimes I can find them online or in a prospectus, but other times I can't seem to find them anywhere.
Can I avoid the fee if I don't hold at ex-dividend? If it doesn't pay a dividend and there's a periodic charge, how is it assigned? Recurring fee? Annual fee? Is it prorated based on your holding period?
Also, is there a consistent place where I can find the specific dividend fee or charge amount? Sometimes I can find them online or in a prospectus, but other times I can't seem to find them anywhere.