SIGN UP

Scottish & Southern Electric shares

Avatar Image
ClareA | 23:29 Mon 11th Jun 2012 | Business & Finance
5 Answers
Be as brief as I can...

My Dad died last year, my Mum in 2003. All major financial matters such as probate, transfer of monies, &c, have been dealt with.
Now I'm addressing the matter of some shares Mum seems to have held in Scottish & Southern Energy (SSE). Dad appears not to have cashed any dividends in her name (100% of Mum's estate went to him) since she died. Although individually small, the dividend payments total a significant amount now and understandably I as their sole heir would appreciate realising them., or at least to have the choice of transferring them to my name.

The dilemma is that through its various incarnations SSE's share arm now seems to be administered by a group called Capita Hartshead, which also oversees pensions for, eg, the Civil Service.
They continue to send letters addressed to my Mum, which are forwarded to me, offering to 'help' her claim her insofar unclaimed dividends for a fee of 15% of their worth, no less!

What I'm asking of message boarders, in their broad and varied wisdom, is:

Do I have no choice but to go through these administrators and pay their (swingeing in my opinion) fee, or do I have another recourse?

Many thanks in advance,

Clare.

Answers

1 to 5 of 5rss feed

Best Answer

No best answer has yet been selected by ClareA. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
The registrars for SSE shares are:

Capita Registrars
The Registry
34 Beckenham Road
Beckenham BR3 4TU

who should be holding any unclaimed dividends on behalf of the beneficial owners. Write directly to them, enclosing copies of the Grants of Probate, claiming the dividends yourself. You should not have to go through a separate 'administration' company that they may have set up. You should also arrange for the shares to be transferred into your own name at the same time, unless you wish to sell them.
Question Author
Thank you, twix123. I'm just concerned about their rather large 15% 'administration fee'. Am I up against it, whatever?
Hi Clare A- I'm wondering whether you have misunderstood twix123's reply. I think that if you write to Capita Registrars (rather than Capita Hartshead) and supply all the relevant papers , you shouldn't have to pay the 15% fee
You are no more required to pay the 15 per cent than anyone living would have to do when selling or giving their shares to someone else.

Deal direct with Capita Registrars. The only extra charge is if there are share certificates which have been lost and you are asked to produce them and can't. Then you'd have to pay a fee for indemnity insurance, in case the lost certificates are misused by someone.

The likely reason why this other firm is involved is that, as far as the company is concerned the shareholder has disappeared and nobody has been cashing the dividend cheques. Then the company employs an agent or subsidiary company to trace the lost shareholder or his beneficiaries, and charges the beneficiary on finding him.
Question Author
Thanks to all of you.
Factor30, I had indeed slightly misunderstood twix regarding the difference between Capita Registrars and Capita Hartshead.
I will now go ahead with more confidence!

C.

1 to 5 of 5rss feed

Do you know the answer?

Scottish & Southern Electric shares

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.