[USER]

Stolen Disney Shares, So my wife received a letter in the mail regarding some shares (10) in Disney that were given to her from her late grandmother.

These were issued in 1990 and forgotten about until the letter was received recently.

She called about them today and was informed someone has been taking dividends out twice a year going back sometime in the 2000’s until 2019.

She was told there is only $18 worth of value left as of today. They will not divulge amounts or who withdrew them because it is a custodial account.

She had some paperwork emailed to her to have that transferred to only her since her grandmother passed a number of years ago.

So, what do you think the value of these would have been?
We plan to file a police report and go after the family member that stole these.

Anything else you would do in this position?

Thank you.

[Lori]

Check with the state lost money department. Find missing money in xx state on google.

[René]

How is the account titled and how could someone take something out if an account without proper I’d, etc?

[Lauren]

I don’t understand this at all. Does the account still have 10 shares? Disney’s price today is over $112 per share, so how can only $18 be left?

[Katie]

I’m no expert, but she should be able to access the account along with the custodian. Then, look at transactions going back to 2019.

If dividends we’re put into the settlement account and then cashed out twice a year, they would have to be sent somewhere.

When my grandpa has his dividends put into his settlement account, he can then pull them out and put them directly into his bank account.

Someone has been receiving the tax information for this account as well. Maybe the IRS can help you if you can’t get access through looking at the transaction history.

Editing just to add that you may want to find out who this person is before contacting authorities. The financial amount is not big enough to blow up someone’s life.

Legally this could totally destroy someone’s life and financially it’s not life-changing for most people.

[Alison]

This is confusing. Dividends would not reduce the amount of shares or the stock value.

Are you sure they were only taking dividends?

[Max]

Maybe grandma was taking dividends out for income and after her passing they didn’t stop.

Does she have an account somewhere where the funds are sitting?

[Bunny]

Is it possible that $18 in dividends have been cashed? I have a small amount of Disney stock gifted to me as a teen.

I get a dividend check for a few bucks or less each years from those shares.

$18 tracks as possible dividends. Perhaps the shares are still intact?

[Forest]

If it was a custodial account how were they able to cash the checks? Unless they set up banking on the account.

[Matt]

Dividends are beyond share value… like interest. There’d be the base share value (number of shares multiplied by number of splits since purchase).

[Sharon]

I’d look at who originally had power of attorney for the grandmother?

[Cherie]

Check your state’s unclaimed property, our dividend checks weren’t cashed (Pennie’s) and they sent the value to our state unclaimed property

[Matt]

That is very odd. Dividends are paid and either reinvested into new shares or they sit there in cash.

The dividends could be withdrawn but unless they sold the stock it should all be there and be more than the shares originally because it’s split a bunch of times.

[Andrew]

Could’ve also been any account fees taken out of the balance annually. Fees will eat away at a smaller balance such as this.

[John]

Someone holding 10 shares in 1990 would have 120 shares today.
Disney (The Walt Disney Company) has a history of stock splits, reflecting its growth and attempts to make its shares more accessible to individual investors.

Here is a summary of Disney’s stock split history:
Disney Stock Split History:

May 18, 1956 – 2-for-1 split
The first stock split occurred after Disney had become a publicly traded company in 1957.

December 18, 1967 – 2-for-1 split
This came during a period of rapid expansion and success, coinciding with the opening of Disneyland in California a decade earlier.
March 6, 1971 – 2-for-1 split

This split happened shortly before the opening of Walt Disney World Resort in Florida in October 1971.

January 16, 1973 – 2-for-1 split
Disney’s continued success in entertainment and theme parks contributed to this split.

March 5, 1986 – 4-for-1 split
Disney’s growth in the 1980s, driven by new ventures like the Disney Channel and the success of its animated films, led to this larger split.

May 18, 1992 – 4-for-1 split
This occurred during a period of renaissance for Disney, marked by a resurgence in its animation division (e.g., The Little Mermaid, Beauty and the Beast).

July 9, 1998 – 3-for-1 split
Disney’s diversification into media networks (e.g., the acquisition of ABC and ESPN) and its dominance in the entertainment industry prompted this split.

Total Splits
Since becoming a publicly traded company, Disney has undergone seven stock splits. All were either 2-for-1, 3-for-1, or 4-for-1 splits.
Impact on Shareholders

Each split increased the number of shares held by shareholders while proportionally reducing the price per share, maintaining the total value of their investment.

Stock splits are often a sign of company growth and confidence in future performance.

Recent History
As of now, Disney has not announced any new stock splits since 1998. Any future decisions would depend on factors like the stock price, market conditions, and the company’s financial strategy.

[Author]

Posts