Gate said it completed dividend credits on U.S.-listed stocks and exchange-traded funds in Tether (USDT), using a payout formula that accounts for a 10% withholding deduction for eligible holders.
Gate’s Oct. 19 notice covered issuers with dividend payment dates from Oct. 13 through Oct. 16. Gate named Lam Research (LRCX), Intuit (INTU), Mondelez (MDLZ), Thermo Fisher Scientific (TMO) and Monolithic Power Systems (MPWR). Those dates refer to the companies’ payments, which may differ from the dates credits reach Gate accounts.
Under Gate’s stated method, 90% of the dividend per share is multiplied by the eligible holdings. The exchange said deductions and processing can change the final amount credited to an account.
A snapshot of users’ holdings determined who qualified, and Gate handled the credits automatically. The securities trade on U.S. markets, though their issuers are not necessarily based in the United States. Gate’s list included BCE, which is headquartered in Canada.
Gate said custodian processing can delay an account credit beyond a company’s dividend payment date.
