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shares

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
years and years ago my mum bought shares in norwich union for 10p each and she bought 300 of them.
NU have since merged with another company forming Aviva or something where the shares now cost 746p if im correct, does that mean my mum own over £2.2k in shares?! and also, my mum jsut got another letter from another insurance company or something about shares! it seems everyone in my street holds shares in the same insurance company, Standard Life. Do you get shares when you take out insurance?
If not, why is my mum complaining she has no moeny where shes got over 2grand in bloddy shares!

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Yep you are right she as 2.2K worth of shares...
    Also normally she should have divende for those yearly depending on company policy...
    But even so she has that worth, she doesn't actually have money unless she sale her shares...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    yeh, i checked the devidend and as far as my business studies education is gonig, you get paid a devidend every year? so thet gets her £52 p/a. The confusing bit though is these shares appear to be bought in the name of 'Christopher <mysurnamehere>'
    That could be for my brother ( university money ? ) or about my dad. Unfortunatly i didnt find any for me :(
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You only get paid a dividend on shares if the company decides to pay one.

    You'd need to make sure that the shares were transfered to the new company on a 1:1 basis and not some other method.

    She'd have to sell them to get the money, and normally that would mean engaging some kind of selling agent, who would take a percentage.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Standard Life is a mutual so if you have some involvment with them such as a pension or endowment then you would get shares if they demutualise. I don't know if they have done that now or if they are thinking about it.

    As for the Aviva shares, Mist is right - you'd need to sell to get the 2.2k and then there'd be comission on the transaction to pay. Still, sounds like the investment paid off for you.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    cant wait until im old enough to buy shares in companies, as i'll play the market like a fiddle.
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