The stock underwent a 3 for 1 split in 2001 and a 2 for 1 split in 2006. The certificate has 130 shares on it...so that means it is actually 130x3 = 390; 390 x 2 = 780 shares now, right??? Do I just hand this in to my broker and he will credit my account with the 780 shares or do I have to do something else?? Surely it can't be this easy, can it...-Mark
2007-04-13 13:40:53 · 5 answers · asked by Anonymous in Business & Finance ➔ Investing
When stocks split you should receive an additional stock certificate for the new shares. If you have not, contact the company, they may not have your correct address. Your math is correct.
2007-04-13 13:46:02 · answer #1 · answered by lcmcpa 7 · 3⤊ 0⤋
It is that easy.
I am not a broker, but I had the same experience. I found a certificate in a old envelope. It was more than than 8 years old. The company was still in business and still public.
I took the certificate to my broker (Chas Schwab) and my account was credited with the current number of shares at the current market price. In your case, that would be 780 shares at the current market price.
I then sold the shares over the period of a few months and was pleasantly surprised about how easy it was.
Then I paid the taxes on the capital gains (long term) at the end of the year.
2007-04-13 13:55:45 · answer #2 · answered by jakeyboy 1 · 0⤊ 0⤋
Jakeyboy is correct. It can be that easy, but there could be one problem. If you never received the split shares, there can be 2 reasons for this. One, because the company only issues split shares in book entry (unless you elect otherwise). Or two, its because the company doesn't have your correct address. If they don't have your correct address, after a certain period of time (it varies by transfer agent) they will escheat your shares to the state of your last known address. If that is the case, you will have to go to your State's website to find out all of the hoops that they are going to make you jump through to get your shares back.
You can check it out for yourself. Go to the website of the company whose stock that you are holding and look for the "investor relations" section. That is where you will find the contact info for the transfer agent. All you have to do is call the transfer agent and give them your certificate number, your name, and your SS#, and they can look it up.
Good luck!
2007-04-13 19:06:36 · answer #3 · answered by Steve 3 · 1⤊ 0⤋
study the corporation. The touch preparation on the lower back may be old college besides the incontrovertible fact that it would be a reliable commencing factor on your study. in case you will detect the corporation or the corporation that offered this is sources, then you definately touch that corporation to make certain greater. Your stockbroker can help with this as he probable has a database expressly for this form of purpose.
2016-12-26 06:56:16 · answer #4 · answered by wurster 3 · 0⤊ 0⤋
Holding stock certificates went out with the dinasaurs. Take your certificates to your broker and turn them in for cash.
BTW you are correct with the math.
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2007-04-13 13:50:23 · answer #5 · answered by SWH 6 · 0⤊ 0⤋