Advise on claiming old Share Dividends

andrewspink

Hello,

My father holds shares in Lloyds banking group. this morning he received a letter from a company who had been appointed by lloyds to find him as there were unclaimed dividends owed for his shares. after looking in to this i discovered that this was due to the fact the address help by the register was our old address as when we moved he had forgotten to notify them of the change.

after speaking with the registrar to get the address corrected they said they can re issue the dividend cheques for a fee of £95.00.

the company who contacted him by letter charge a fee of 12.5% + vat to claim the money on his behalf and send it onto him.

i have absolutely no knowledge in this area and just wanted to see if the fees quoted are the norm or if there is a way of claiming the dividends for a reduced fee or no fee at all.

thank you

Andrew

xylophone

http://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Pages/DivReissues.aspx

Don't go through the company that contacted him? Does he still own the shares? If so, arrange for dividends to be paid to his bank account?

andrewspink

Yes he still owns the shares. i will set up a payment into his bank account for any future payments. not too sure if they can pay the money he is due that way as technically he is needing to replace a lost cheque.

xylophone

not too sure if they can pay the money he is due that way as technically he is needing to replace a lost cheque.

Ask Equiniti.

andrewspink

I've spoke with equinity earlier today before i started this thread and they confirmed with me the value of the dividends. to be honest the £95 fee they quoted me is worth paying based on the value of the dividends he is due.

we moved house 27 years ago and my father is sure he wrote to the registrar to update his details, either way this never happened so he hasn't received a cheque in 27 years.

i think i'll give them another call in the morning as they are closed now and see if they can transfer the money direct and set up a direct payment for future dividends.

thank you for all of your help