Lloyds AGM

wmb194

P1Fanatic said:

wmb194 said:

P1Fanatic said:

silvasava said:

The shares we have are now worth peanuts,  shame I didn't sell them years ago when they were worth about 10 pounds each! Thought they'd be worth keeping as a backup for old age lol!  I'm aware of the explanatory notes but in the light of the value I'll just accept all and be done with it.
Thanks for your input.

Did you receive this AGM / voting slip in the post? I only ask as I am tidying up my late mothers estate for my dad and amongst others she has some Lloyds shares which as you say are worth peanuts. I've not seen any post or email correspondence about this AGM. They are pretty much the only shares left and I am tempted to sell them just so my dad can stop paying £10pm DD to Interactive Investor. But I see from the link above they are about to pay dividends so maybe I need to hold on. Not that its worth anything at 1.33p per share as he only has 716.

If they're held by a nominee you're unlikely to receive anything in the post, instead you'd probably need to contact the broker*. Lloyds' shares last went ex-dividend on 07/04/22 so you can sell them now and you'll still receive the mighty amount of £9.52, due 19/05/22.

*Most aren't very interested in helping you vote your shares, though.

I'm pretty new to this as have never bought individual shares (only invested in funds). What does held by an nominee mean - that they were purchased through a platform like ii? I guess I just hold out and see if anything gets paid into the ii account on / around 19th May.

Stockbrokers / platforms hold the shares as nominees i.e. the shares of all customers will be pooled under 'ii nominees ltd' (or whatever it calls itself) and this will be the entry in the share register rather than your or any other customers' name. Dividends will be paid to ii and then it will distribute them appropriately amongst its customers. You can ask some brokers to automatically pay out income to another account or reinvest in more shares but the default will be to deposit the money into your brokerage account.

Don't worry, if you owned them on the ex-dividend date you will be paid. In their T&Cs brokers usually give themselves up to five working days to deposit dividends in your account but usually these days it'll be on the due date or next day.