Disney share to be seized by Delaware...

[Guest]

Do you own a Walt Disney Company share?
We have just receive a letter from Broadridge (Brokers for Disney) in Delaware saying if we don't respond to them our share will be treated as "abandoned property" and revert back to the state of Delaware.Nice little earner, eh? Seeing as one share is now worth $105.
It seems if you don't bank your dividend cheques or you don't vote on shareholders site, they treat this as inactivity and can thus claim your share. Obviously we are talking about the monetary vale of the share not the beautiful art print of the share that came as your proof of purchase. However, if you respond by calling them, signing on to their website (you need a US security number to do that) or reply by mail within 30 days Delaware ceases the value of the share. To complete the form you have to have a US tax ID. They call this "escheatment of property". I like the way the word CHEAT is in there.
Seems we will have to call them on Monday. What a palaver!

[loves2plan]

Not had a letter yet but only had my share for 2 years. Let us know how you get on.
Find it hard to believe that a company can just claim something back that belongs to someone else!

[parisdisneyfan]

I'll be waiting for the letter what a pain. I've had my share for nearly 10 years, but did write to them 2-3 years ago so do you think that might have helped?

[kellie]

i got the same letter this morning and wondered what was the best thing to do

[Guest]

The majority of companies in the US register in Delaware because it doesn't have corporation tax but the state reserves the right to cease inactive shares, so the money doesn't go back to Disney either. Seems the way round this, once sorted, is to go on the AGM site and just vote for anybody each year. We don't bank the divindend checks because to do so at Sun trust would cost us $15 each time.

[Guest]

Originally Posted by kellie

i got the same letter this morning and wondered what was the best thing to do

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Will let you know when we have ring them on Monday.

[kellie]

Originally Posted by geoffa

Will let you know when we have ring them on Monday.

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thanks Geoffa

[Guest]

My DH has just said why on earth can't they just send the dividends out on a giftcard?

[Imagineer2802]

Oh dear, I shall expect this letter then! Why do people have to make life so complicated?

[DisneyBlonde]

We got our letter too. We've signed it, put N/A in the tax info and sending back this week.

I'm sure we had one a few years ago and didn't return it, but will with this one.

We tried going online using the account number and found the first digits for the Walt Disney company acciunt but it just returned a server error.