Investing

What to do with a Share Certificate?

  • Last Updated:
  • Feb 16th, 2018 10:47 am
[OP]
Penalty Box
Jun 24, 2015
4963 posts
1494 upvotes
0 downvotes

What to do with a Share Certificate?

a few years back We were all laid off from an unnamed company, I had some shares in the company thru payroll deductions, which equaled to about 100 shares or so, I had the option to cash them out, or keep them. I chose to keep the shares, tho everyone I worked with decided to cash them out and get a pay day. Anyways they sent me some kind of share certificate that shows I own so and so many shares bla bla bla, I started getting cheques in the mail for dividend payments every few months. I said wait a sec, and called up the trustee who was sending me the shares, they said that I can opt to re-invest the dividends into a DRIP plan, basically divident reinvestment plan and the dividends will go toward buying shares. So now I own a different amount of shares than the certificate states, so what do I do? my friend said to take it to a bank, the banker said they only deal with personal accounts and I need to see a broker? some advice plz?
Hi
5 replies
Deal Addict
May 18, 2015
1630 posts
630 upvotes
Ottawa,Ont
GoodFellaz wrote: a few years back We were all laid off from an unnamed company, I had some shares in the company thru payroll deductions, which equaled to about 100 shares or so, I had the option to cash them out, or keep them. I chose to keep the shares, tho everyone I worked with decided to cash them out and get a pay day. Anyways they sent me some kind of share certificate that shows I own so and so many shares bla bla bla, I started getting cheques in the mail for dividend payments every few months. I said wait a sec, and called up the trustee who was sending me the shares, they said that I can opt to re-invest the dividends into a DRIP plan, basically divident reinvestment plan and the dividends will go toward buying shares. So now I own a different amount of shares than the certificate states, so what do I do? my friend said to take it to a bank, the banker said they only deal with personal accounts and I need to see a broker? some advice plz?
TD and CIBC will both allow you to deposit these into a brokerage account for free.
[OP]
Penalty Box
Jun 24, 2015
4963 posts
1494 upvotes
0 downvotes
what is the benefit of depositing it or keeping it in a safe place at home? my shares are being re-invested anyways, what is the pros and cons?
Hi
Deal Addict
May 18, 2015
1630 posts
630 upvotes
Ottawa,Ont
GoodFellaz wrote: what is the benefit of depositing it or keeping it in a safe place at home? my shares are being re-invested anyways, what is the pros and cons?
If you deposit it, you can sell it much faster if the time comes you would like to do so.

Otherwise everything else is the same
[OP]
Penalty Box
Jun 24, 2015
4963 posts
1494 upvotes
0 downvotes
thank you for the helpful information. that makes sense, and I won't be selling it any time soon so I will hang on to it
Hi
[OP]
Penalty Box
Jun 24, 2015
4963 posts
1494 upvotes
0 downvotes
just an update, I happen to have "More" shares than quoted on the certificate, will that be a problem?
Hi

Top