Lost Australian Shares
More than 150,000 small Australian investors have forgotten about $140 million in dividends and up to $1 billion worth of stock shares. This may sound incredible, but lost dividends and shares happen for a number of reasons. People inherit estates and may not realise all of the property involved, particularly if there are just a few shares in a particular company. Another way shares are forgotten is when someone–often a parent or grandparent–purchases shares for another person. If the child was young when the transaction occurred, he or she may never even have known about it.
Finding lost dividends and shares
Although locating lost shares is more complex than locating a lost bank account or pension, there are systems in place to match owners and lost shares. If you know or suspect that you have lost shares and past dividends that you haven’t received, you can trace them. The more information you have when searching, the more likely you will be successful in locating them. Security Reference Numbers or Holder Identification Numbers, dividend statements, and your previous addresses are all helpful.
Losing track of your stock shares and dividends doesn’t mean you have to write them off. Though it may take a little time and a few calls and letters, you can reclaim your lost shares, receive any outstanding dividends and start receiving dividends again.
If you need help finding lost dividends and shares, click here for more information on contacting the relevant registry for your shareholding.