Cheapest way to replace a lost share certificate

katsclaws

Can anyone help with the cheapest way to replace a lost share certificate.
The share certificate is for a recent dividend worth about £200.
A few years ago I did this for a lost certificate and wasn't charged anything. But it seems that I have to get insurance from a bank for indemnity as well as admin costs.

Glen_Clark

You don't need a share certificate to claim a dividend. If you are on the share register it will be sent to you automatically. You only need the certificate to sell the shares. If you lose it you have to pay the registrars fee and go through a lot of identity checks to get a replacement certificate - as it should be. You can't expect other shareholders to bear the cost of your mistake.

katsclaws

Thanks Glen. I have been investing in the stock market for more than thirty years and this is the only the second time a share certificate has gone missing. Thankfully most of our portfolio is in nominee accounts. I don't expect anyone to pay for my mistake (or in this case the Royal Mail's mistake).

frugalmacdugal

Hi,

katsclaws wrote: »

Can anyone help with the cheapest way to replace a lost share certificate.
The share certificate is for a recent dividend worth about £200.

yes but, is it a share certificate which is lost or a dividend payment?

katsclaws

frugalmacdugal wrote: »

Hi,



yes but, is it a share certificate which is lost or a dividend payment?

It's the share certificate that is lost. The certificate is for a recent dividend payment

frugalmacdugal

Hi,

but if you are on the share register then the dividend should be posted to you, you don't need to provide certificate.

katsclaws

frugalmacdugal wrote: »

Hi,

but if you are on the share register then the dividend should be posted to you, you don't need to provide certificate.

Thank you. The certificate must have been lost in the post. I want to put the shares in a nominee account (to avoid any more certificates getting lost) so need to send off all share certificates. Even if I wasn't doing this the certificate will need to be replaced at some stage.

Glen_Clark

katsclaws wrote: »

Thanks Glen. I have been investing in the stock market for more than thirty years and this is the only the second time a share certificate has gone missing. Thankfully most of our portfolio is in nominee accounts. I don't expect anyone to pay for my mistake (or in this case the Royal Mail's mistake).

But your thread is titled 'Cheapest way to replace a lost share certificate'
The only people who can do it are the company's registrars so you have to pay whatever they charge - which isn't cheap because it involves necessary identity checks.
I still don't understand what you mean by 'The certificate is for a recent dividend payment' because you don't get a certificate for a dividend payment. If its not paid into your bank account automatically you get cheque, and a tax voucher which you keep for the unlikely event the Inland Revenue ask to see it. If that happens you could ask for a replacement tax voucher then, which will cost you a lot less than a share certificate.
PS: If its the cheque you have lost then again the only people who can replace it are the registrars who will stop the lost cheque and issue a new one. Again if you use their service (and you have no choice but to use it) then you have to pay whatever they charge.

katsclaws

Hello Glen, it's a DRIP scheme so each dividend is in the form of a share certificate. For some companies this means four share certificates a year. When I do my tax return I put down cash dividends on one part of the form. Then under 'other income' I put down all the dividends that are paid in shares.

Glen_Clark

katsclaws wrote: »

Hello Glen, it's a DRIP scheme so each dividend is in the form of a share certificate. For some companies this means four share certificates a year. When I do my tax return I put down cash dividends on one part of the form. Then under 'other income' I put down all the dividends that are paid in shares.

Sorry I didn't realise that.:o
(I once did that and got so many certificates I stopped it and went back to cash dividends, after posting them all back to the registrar and getting them consolidated into one certificate which they did free of charge)
But again the only people who can do it are the Registrars so you have to pay whatever they charge. Have you enquired?

katsclaws

I have and there is an admin charge for the forms + the cost of the new certificate. The cost depends on the share price at any particular time so must be on a percantage basis. Not sure how much insurance from the bank is likely to cost. Thank you for your reply.