Aviva plc Return of Capital Update.

[daveh]

I am expecting the 14.70p dividend to be paid on the 19th May

The B shares to be credited to my account this week with an option to sell and receive payment on the 31 May

Payment for the odd number of shares to be paid this week or early next week

The Ordinary dividend - 14.70p per share - should be received by your Broker today - 19 May 2022.

With regard to the Special dividend 'B Shares', there is not an "option to sell" them, they will be compulsorily purchased!

The 'B Shares' are being redeemed today - 19 May 2022 - so, do not expect to see them in your account. Rather the funds that are to be received by your Broker today, from their redemption, should be distributed like any ordinary dividend receipt. In the case of my Broker, that is normally the day of receipt, so I am expecting a credit of 101.69p per share today, on top of the ordinary dividend payment.

The fractional number of shares left over will be accumulated and sold over the next few days/weeks, with the funds being distributed to your Broker soon after. I believe that it has been stated that this fractional payment, which can only be a few pounds per shareholder, is expected on or before 31 May 2022.


Ian

Actually the B shares were redeemed on the 17th May. There was an RNS announcing it on the day.

[IanTHughes]

I am expecting the 14.70p dividend to be paid on the 19th May

The B shares to be credited to my account this week with an option to sell and receive payment on the 31 May

Payment for the odd number of shares to be paid this week or early next week

The Ordinary dividend - 14.70p per share - should be received by your Broker today - 19 May 2022.

With regard to the Special dividend 'B Shares', there is not an "option to sell" them, they will be compulsorily purchased!

The 'B Shares' are being redeemed today - 19 May 2022 - so, do not expect to see them in your account. Rather the funds that are to be received by your Broker today, from their redemption, should be distributed like any ordinary dividend receipt. In the case of my Broker, that is normally the day of receipt, so I am expecting a credit of 101.69p per share today, on top of the ordinary dividend payment.

The fractional number of shares left over will be accumulated and sold over the next few days/weeks, with the funds being distributed to your Broker soon after. I believe that it has been stated that this fractional payment, which can only be a few pounds per shareholder, is expected on or before 31 May 2022.

Actually the B shares were redeemed on the 17th May. There was an RNS announcing it on the day.

Sure, but by "redemption", I meant being paid for


Ian

[daveh]

Actually the B shares were redeemed on the 17th May. There was an RNS announcing it on the day.

Sure, but by "redemption", I meant being paid for


Ian

Its not happened today. The dividend has arrived in my bank account, but not the capital repayment (for my shares held in CREST). The Aviva website still says by 31st May for the capital payment.

[tmiuatga]

Both in my Irish bank account this morning.
I'm living in Ireland.

[Padders72]

ii have now paid out both. GS was quite right.

[moorfield]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

[monabri]

IWeb....not so far! (Not surprised).

Interactive Investor also show the uncorrected average price ( ie the ~24% "loss"). Maybe in time they will adjust the value?

[daveh]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I've just checked (again). Nothing in the bank account except the dividend and that's paid direct by Aviva as the shares are held in a CREST account so I'd have expected the capital payment to be on time there. Nothing from HSDL not even the dividend, but that's not unusual, they are often a day late with payments.

edit
Interesting - just checked my Crest sponsored account and the cash has appeared there rather than my bank account - not what I was expecting. So it has happened today. Just late at HSDL. Bit annoying as the Crest account holding is quite small so it not really enough to reinvest.

[monabri]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I've just checked (again). Nothing in the bank account except the dividend and that's paid direct by Aviva as the shares are held in a CREST account so I'd have expected the capital payment to be on time there. Nothing from HSDL not even the dividend, but that's not unusual, they are often a day late with payments.

Interesting because iWeb ( same family as HSDL) has paid the dividend.

[triatharoo]

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

There's something in their messaging which says that the transaction has to be reversed and reposted to sort that out. I'm not sure, but assume that means they have some processing to do once the dust has settled.

[triatharoo]

IWeb....not so far! (Not surprised).

I've never seen anything from iWeb until after close of business, when some "cash sweep" or something (I forget what it says exactly) runs. I haven't checked today though.

[Dod101]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I am not a holder of Aviva but if I were in your position, I would I think be counting the cost of the now 19 shares as the original cost less the return of capital which you have now received, because in effect you have 'sold' the 6 shares. Of course if in an ISA or SIPP it does not matter.

Dod

[monabri]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I am not a holder of Aviva but if I were in your position, I would I think be counting the cost of the now 19 shares as the original cost less the return of capital which you have now received, because in effect you have 'sold' the 6 shares. Of course if in an ISA or SIPP it does not matter.

Dod

Effectively a "forced" sale but a sale no less, so I record it the XIRR calculation for Aviva (I calculate XIRR for all individual shares and for the portfolio (p/f) as a whole - the cash is still within the p/f so it has no effect on the "global" XIRR).

[PeterGreenhill]

Received both dividend and return of capital today. Reinvested the return of capital back into Aviva via my Iweb ISA account. So I have the same number of shares as pre return of capital but a slightly higher % of the company. An inconsistent performer in the past but they just might be a strong dividend stock going forward. Time will tell.

[seagles]

Received both dividend and return of capital today. Reinvested the return of capital back into Aviva via my Iweb ISA account. So I have the same number of shares as pre return of capital but a slightly higher % of the company. An inconsistent performer in the past but they just might be a strong dividend stock going forward. Time will tell.

Did you receive them in IWeb or another account? I ask as there is no evidence of Aviva dividends or return of capital in my IWEB, although Lloyds has appeared as expected.

[daveh]

Received both dividend and return of capital today. Reinvested the return of capital back into Aviva via my Iweb ISA account. So I have the same number of shares as pre return of capital but a slightly higher % of the company. An inconsistent performer in the past but they just might be a strong dividend stock going forward. Time will tell.

Divi has now arrived in my HSDL ISA (in the income and dividend tabs, but has not yet been swept to the cash tab). No sign of the capital payment, but I'm not sure where it will turn up, as its not income or a normal dividend so maybe it won't turn up in either the income or divi tabs but will appear in the cash tab later.

Interesting that iweb is being quicker than its parent HSDL, I wonder if they use the same back office?

[Bouleversee]

Received both dividend and return of capital today. Reinvested the return of capital back into Aviva via my Iweb ISA account. So I have the same number of shares as pre return of capital but a slightly higher % of the company. An inconsistent performer in the past but they just might be a strong dividend stock going forward. Time will tell.

Did you receive them in IWeb or another account? I ask as there is no evidence of Aviva dividends or return of capital in my IWEB, although Lloyds has appeared as expected.

My IWeb ISA acct. does show the dividend today (as well as that from Lloyds) but no sign of the return of capital; corporate actions shows zero and the reduced holding shows in the p/f as a 28.77% loss. I didn't get anywhere when I complained the other day about the lack of info under Corporate Actions (they said it was under history) but I really don't understand how large payments can be credited to accounts in one broker and not in others.

[PeterGreenhill]

Received both dividend and return of capital today. Reinvested the return of capital back into Aviva via my Iweb ISA account. So I have the same number of shares as pre return of capital but a slightly higher % of the company. An inconsistent performer in the past but they just might be a strong dividend stock going forward. Time will tell.

Did you receive them in IWeb or another account? I ask as there is no evidence of Aviva dividends or return of capital in my IWEB, although Lloyds has appeared as expected.

Sorry, I should have clarified. My Aviva holding is held in certificated form so both dividend and return of capital appeared in my current account. I then bought more Aviva using the return of capital via my Iweb ISA account.

[moorfield]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I am not a holder of Aviva but if I were in your position, I would I think be counting the cost of the now 19 shares as the original cost less the return of capital which you have now received, because in effect you have 'sold' the 6 shares. Of course if in an ISA or SIPP it does not matter.

Dod

Well it's academic anyway, I shall soon be disposing of the rest of my AV and recycling it into ITs.

[Dod101]

Yes I've just checked and received both too today.

I must say I'm a little irritated by how AJBell have handled the accounting of all this (probably not their fault). My 19 new "consolidated" shares still show the same book cost as the original 25 - normally a return of capital event would reduce the book cost in this case by ~6/25ths - and thus my position is now showing a ~25% capital loss, which is not strictly true.

I am not a holder of Aviva but if I were in your position, I would I think be counting the cost of the now 19 shares as the original cost less the return of capital which you have now received, because in effect you have 'sold' the 6 shares. Of course if in an ISA or SIPP it does not matter.

Dod

Well it's academic anyway, I shall soon be disposing of the rest of my AV and recycling it into ITs.

I suspect that may be a good idea. It has a very chequered history and I have never held it. Will the CEO get it right? I would not count on it although she certainly seems to be decisive and gets things done which is more than can be said for some of her predecessors.

Dod