London is Europe's deepest equity market by number of large international companies, and its leaders lean toward energy, mining, banks, pharmaceuticals and consumer staples. Many FTSE 100 companies earn most of their revenue outside Britain, so the market behaves less like a bet on the UK economy than its name suggests.
Dividend taxes for U.S. investors
The UK generally does not withhold tax on ordinary company dividends, so U.S. holders receive the full declared amount and there is nothing to reclaim; the treaty's 15% portfolio cap never comes into play. The main exception is UK REITs, whose property income distributions are withheld at 20% (rising to 22% for distributions on or after April 6, 2027). With no foreign tax paid, there is also no foreign tax credit to claim on ordinary UK dividends.
Getting to the treaty rate: Nothing to reclaim on ordinary dividends, since no UK tax is withheld. For UK REIT property income distributions, treaty relief depends on documentation filed with the REIT's registrar or your broker. Difficulty: Easy.
Qualified dividend status: Yes — treaty country; U.S.-listed shares and ADRs also meet the readily-tradable test. See how foreign dividends qualify.
Estimate what a United Kingdom dividend nets you with the Withholding Calculator.
Where and when it trades
Main exchange: London Stock Exchange (LSEG)
Local hours: 8:00–16:30 UK time (opening auction from 7:50; closing auction 16:30–16:35)
In U.S. Eastern Time: 3:00–11:30 a.m. ET for most of the year; 4:00 a.m.–12:30 p.m. ET during the few weeks in March and late October/early November when U.S. and UK clocks change on different dates
Because the home market is often closed while New York trades, news released overnight shows up in the ADR at the U.S. open. Read more about global market hours.
Well-known U.S.-traded listings
These are some of the most widely held United Kingdom companies available on U.S. markets, listed as examples of how access works, not as recommendations.
| Company | Ticker | Venue |
|---|---|---|
| AstraZeneca (ordinary shares) | AZN | NYSE |
| Shell | SHEL | NYSE |
| BP | BP | NYSE |
| Unilever | UL | NYSE |
| HSBC Holdings | HSBC | NYSE |
| GSK | GSK | NYSE |
| Diageo | DEO | NYSE |
Financial reporting
Annual reports on Form 20-F for SEC registrants; UK-listed companies report semiannually (many add quarterly trading updates) under UK-adopted IFRS.. Our guide to reading foreign financial statements covers the differences that matter.
What American investors should weigh
- No UK withholding on ordinary dividends makes British income stocks among the simplest foreign holdings from a tax standpoint.
- Dividends are usually declared in pounds (some in dollars), so the amount you receive moves with GBP/USD.
- Several large companies have replaced ADRs with direct U.S. listings of ordinary shares — AstraZeneca did so on the NYSE in February 2026 — which can remove depositary fees but changes the share count per trade.
- UK stamp duty applies to purchases of shares on the London market but generally not to trading of existing ADRs in New York; check how your broker executes before buying in London.
- Heavy weighting to oil, mining and banks makes the FTSE 100 more cyclical and more value-oriented than the S&P 500.
Rates change
Figures on this page were checked against the sources below on October 24, 2026. Treaty rates and domestic rules do change; confirm the current rate with your broker or the official source before relying on it.
Sources
Educational content only, not investment, tax or legal advice. The Stateside Report does not recommend buying or selling any security. Tax rules depend on your situation; confirm with a qualified tax professional. Full disclosures.