Aviva sharesk

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baxlin

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Hi all, I have some Aviva shares (free when they de-mutualised!) and receive dividends in the normal way. But today, as well as the £teens dividend, I also had a much larger amount paid to my bank acct, quoting the same ref. Mrs B had the same. Anyone else had this, and do you know why? I can’t find any reference in past correspondence.

Thanks
 
You'll find you now have fewer shares, there's been a share buy-back. got this from Hargreaves Lansdown :

"Over the next week you’ll see a number of changes to the Aviva shares you hold in your HL account.

• On 16 May, the number of Aviva shares you own will drop

• On 19 May, you’ll get a one-off payment, called a return of capital, from Aviva."

Apparently there's a more detailed PM in my account, but I haven't yet looked at it.
 
What HL told me by PM :

"Aviva wants to pay shareholders some of the proceeds following the disposal of eight non-core businesses. This will be a one-off payment of 101.69p for each share held at the close of business on 13 May 2022.

When a company pays a return of capital, it’s normal for the share price to drop by the amount that's returned per share. Aviva wants to keep the share price roughly the same before and after the return of capital.

To do this the company will reduce the number of shares every shareholder owns. Shareholders will get 76 new shares for every 100 shares held. You may also get a small cash payment in early June to cover any difference from rounding.

This won’t make a difference to the overall value of your holding. The total value of your new Aviva plc shares plus the money you get should be similar to the value of your current holding."
 
That’s great, thanks for the detailed explanation, much appreciated
 
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