Recording past stock dividend

Rita Roberts on

In February 2012, Southern Copper Corp (SCCO) paid a stock
dividend of
0.16050. This was never recorded in Bivio, and discovered
when we sold the originally purchased shares, leaving a
balance of 0.16050 shares. How do I record it now in order
to balance/close out the record?

Laurie Frederiksen on

Dear Rita,

There are several issues with SCCO that are going to affect your sale entry.

The stock dividend should be entered as a split using the split button on the Accounting>Investments page. Enter a split for 15.16050 shares for 15 shares on 2/28/2012.

In addition, SCCO announced that one of the dividends they paid during 2012 has to be adjusted to be partially a return of capital and only partially a dividend. This will affect your share cost basis and your capital gains on your sale.

The details are found in this form 8937 on their website:

http://www.southernperu.com/ENG/invrel/Documents/DOC031813.pdf

To record it, you need to split up the dividend you received on 11/21/2012 into two entries. $14.10 needs to be entered as a Return on Capital using the Income button you'll find on the Accounting>Investments page. The second entry will be for the remainder of $27.59 which will be entered as a dividend using the same button.

Both these things should have been picked up by you last year. The number of shares not agreeing with your broker is something you should check every month. The dividend amount should have shown up as not agreeing when you compared your 1099 information to bivio. Just let us know when you find things like this that you don't know how to fix. We're glad to help you get them adjusted in a timely manner.

Once you make all the entries above, re-enter the sale you had this year.

After you do, check that the information on the bivio capital gain and loss report agrees with what your broker shows on the realized gain/loss report.

Hope that helps.

Laurie Frederiksen
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On Mon, Nov 18, 2013 at 2:10 PM, Rita Roberts <rita.roberts@verizon.net> wrote:

In February 2012, Southern Copper Corp (SCCO) paid a stock
dividend of
0.16050. This was never recorded in Bivio, and discovered
when we sold the originally purchased shares, leaving a
balance of 0.16050 shares. How do I record it now in order
to balance/close out the record?

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