MS Money and Aviva share consolidation

[torata]

A quick question
How have people handled this in Money? I simply cannot get my head around the best way to do it.

There's a "final dividend of 14.70 pence per existing ordinary share in the Company, payable on or around 19 May 2022"
Plus the "return of capital through the issue of B shares which the Company expects to redeem in cash for 101.69", then followed by "a 76 for 100 share consolidation" on 16 May 2022.

Many thanks in advance

torata

[Dod101]

A quick question
How have people handled this in Money? I simply cannot get my head around the best way to do it.

There's a "final dividend of 14.70 pence per existing ordinary share in the Company, payable on or around 19 May 2022"
Plus the "return of capital through the issue of B shares which the Company expects to redeem in cash for 101.69", then followed by "a 76 for 100 share consolidation" on 16 May 2022.

Many thanks in advance

torata

I do not hold Aviva but am sure I have done this in the past. Does it not work by clicking 'Record special activities' and then go to 'Split shares' Instead of say 100 for 76, put 76 for 100 in the case of Aviva.

As for the return of capital, that needs to be recorded step by step.

Buy B shares within the Aviva Account, at no cost
Sell B shares within the Aviva Account, at 101.69. That will throw up the amount you get from the return of capital (if that matters for CGT purposes) and should in any case give you the record for future reference.

Hope that works.

Dod

[moorfield]

I tried to tackle it in two steps

(i) record a share split 76 for 100, which worked fine giving me the correct number of shares and value at new share price

(ii) record a return of capital of the amount received, which gave me the correct cash account balance and reduced the cost of shares by ~25%

However, the cost of shares then become out of sync with my brokers (AJ Bell) figure, who had reduced it by ~19% instead. I don't understand at all how they arrived at that figure.

(Edit: Probably the way I could have hacked that is to record a further return of capital adjustment to reconcile the holding cost with AJ Bell's figure that does not transfer any balance into the cash account, however that doesn't explain or understand how AJ Bell computed their adjustment.)

But in the end, I have dealt with it by selling all the remaining shares last week. The proceeds are being reinvested elsewhere into ITs.

[Padders72]

I tried to tackle it in two steps

(i) record a share split 76 for 100, which worked fine giving me the correct number of shares and value at new share price

(ii) record a return of capital of the amount received, which gave me the correct cash account balance and reduced the cost of shares by ~25%

However, the cost of shares then become out of sync with my brokers (AJ Bell) figure, who had reduced it by ~19% instead. I don't understand at all how they arrived at that figure.

(Edit: Probably the way I could have hacked that is to record a further return of capital adjustment to reconcile the holding cost with AJ Bell's figure that does not transfer any balance into the cash account, however that doesn't explain or understand how AJ Bell computed their adjustment.)

But in the end, I have dealt with it by selling all the remaining shares last week. The proceeds are being reinvested elsewhere into ITs.

You haven’t mentioned the (non special) final dividend. Did you have auto reinvest set, that would account for the discrepancy on AJ Bell. Or have you accounted for the other dividend separately.

[torata]

Thank you, Dod and Moorfield

I took moorfield's suggestion and it worked well. As it's in an ISA, I didn't add B shares as it seemed unnecessary. Instead of having 76 for 100, I put in my actual before and after total shares (as had been mentioned in passing on one of the Aviva threads on the HYP board), thus avoiding the fractional shares issue that I'd also been fretting over.
And of course the dividend just went in as a straightforward dividend with no connection to the return of capital and consolidation.

torata