Anglo American mines copper in Chile and Peru, and iron ore, the main ingredient of steel, in South Africa and Brazil.
What you get
EQ lists Anglo American for EQ Boost. If the service is available for your holding, you can use dividends to buy retailer vouchers worth more than the cash spent. The extra value varies by retailer.
What it takes
The published terms do not state a minimum shareholding.
You spend your own dividend money. Choosing EQ Boost replaces the dividend instruction Equiniti holds for that holding, including any dividend reinvestment or scrip instruction. The whole dividend goes to EQ Boost, and you cannot top up the account with other money.
Before buyingA perk is a minor benefit of owning a share, not a reason to buy one. Share prices fall as well as rise, and dealing costs, spreads and tax can exceed a perk’s value. Read about the risks.
Holding through a broker
EQ excludes ordinary broker nominees but generally allows company-sponsored nominees. Equiniti runs Anglo American’s UK register. EQ and Anglo American do not confirm EQ Boost access for shares on the South African register or in a company-sponsored nominee. Ask EQ about your holding.
Other conditions
- Age and residency
- You must be over 18. EQ’s terms appear to limit the service to UK residents; if you live elsewhere, ask Equiniti before you apply.
- Excluded holders
- Corporate shareholders; executors and administrators acting for deceased shareholders
- Joint holdings
- The account opens in the first-named holder’s name. They must have permission to create it, and withdrawals go to a bank account in their name.
How to claim
Check whether your UK-register holding appears in Shareview Portfolio. EQ Boost asks for your email address and date of birth.
- 1. Check your UK-register dividend electionIf your Anglo American holding appears in Shareview Portfolio, check its Dividend Election page. Choose EQ Boost if it appears before the payment deadline; otherwise, ask EQ whether your holding can use the service.
- 2. Buy vouchers when the dividend arrivesWhen your dividend arrives in EQ Boost, sign in, compare current voucher offers and read their terms before buying.
Dates
The published terms do not say how long you must hold the shares.
- Qualifying date
- Check the record date in Anglo American’s announcement for the dividend you want to redirect.
- Claim deadline
- Choose EQ Boost at least 15 working days before the dividend payment date, unless EQ states another deadline. A late instruction takes effect for a later dividend.
- Expiry
- Each retailer sets its voucher expiry and spending rules.
Practical notes
Voucher and account risks
Vouchers are in sterling. If a retailer goes out of business, you could lose the value of its unspent vouchers. EQ Boost is not regulated by the Financial Conduct Authority (FCA), and money in the account has no Financial Services Compensation Scheme protection. If Equiniti Financial Services Limited holds your shares, the dividend loses FCA client-money protection when it moves to EQ Boost.
Changing back to cash
You can withdraw unspent money to a UK bank account in the account holder’s name. To stop future dividends going to EQ Boost, change the election by the same deadline shown above. A late change may send one more dividend to EQ Boost.