I searched mine state comptroller's unclaimed accumulation database. I discovered four accounts that my grand had. They all seem come be share accounts: lengthy Island Lighting agency (LILCO), GTE Corp, financial institution of new York, and MidAmerican power Holdings. 2 are listed as "distributions indigenous owner the int (nonadr)" and two are detailed as "cash dividend (other 보다 adr)". They space all report to the comptroller's office 20 come 31 year after his fatality (1997-2008).
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My sister and I room the just surviving heirs for this reason presumably, the claim is ours to make. Based on the documentation requirements, it will likely cost us about $200 to obtain the vital documentation and also prepare the paperwork. I confirm the state's fact sheet ~ above unclaimed funds: 53% are much less than $100. Attention is just paid top top the very first five years and only in ~ 2%.
What space the odds this accounts room worth claiming?
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· 5y · edited 5y
It's actually complicated.
GTE Corp an unified with Bell Atlantic to kind Verizon in 2000. GTE's last close was $55.50 and also for every re-superstructure they got 1.22 share of Verizon. So. Let's i think he had actually one share of GTE. So, 1.22 shares of Verizon. On average, in those days a share of VZ paids $1.50/year so contact it $12/share 2000- 2008. And also that doesn't counting the dividend from GTE for 3 years, which ns am entirely not going to look up.
MidAmerican is now largely owned by Berkshire Hathaway, up till 2012 as a utility, they typically paid really decent dividends (like $4/share in 2011). So, for median sake, let's speak $2/year/share - contact it $20/share.
Bank the NY together of 2007 is currently BNY Mellon, they pay probably $.80/share this days. So, let's call it - .50/share because that those year or $5. Every BNY shareholder acquired .9434 shares of BNY Mellon.
Long Island Lighting ended up being the LI strength Authority and also KeySpan - KeySpan an unified with nationwide Grid. I'm not even going over there on that one.
Assuming they owned one re-superstructure of every of those stocks, and assuming the shares every converted to the brand-new stocks and didn't convert to cash during the mergers, the dividends are probably $30-40.
Now, it's extremely unlikely lock owned just one re-publishing of every of this companies.
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The bigger issue is the present status the the stock. It's possible that each stock converted to cash at the time of the mergers, and then was escheated to the state. Or they fight some other deadline and also were escheated. It's also possible that they are still ~ above the firm books.