This is the IRA interpretation of tax on dividend
According to part C the tax will be for the portion between the company giving back to shareholders and what the member paid to the company. I am not sure how much they will be considering as payment made by the member to company and if it is the last closing price on which the member will be entitled for repurchase then that price will be 30.70. Accordingly the WHT will be (36.7-30.7)*10%. That will be a transaction cost of 1.63% compared to the normal market transaction cost of 1.12%.
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