AAP General News (Australia)
04-23-2006
NSW: $42mln in missing IAG and AMP dividends
SYDNEY, April 24 AAP - At least 125,000 people nationally are missing out on $42 million
in IAG and AMP dividends because the companies cannot contact them.
Averaging $336 per shareholder, the money is believed to be mainly owed to small time
investors, The Daily Telegraph reported today.
If the cash is not claimed within a specific time limit it will go into the coffers
of state governments.
About 70,000 IAG shareholders, entitled to a combined $8.5 million, have not received
their payments because they have not supplied the insurer with accurate bank account details,
the paper said.
A further $12.5 million worth of IAG dividend cheques have not been banked, most likely
because they have been sent to incorrect addressees.
More than 55,000 AMP investors are missing out on $21 million, the paper said.
AAP tr/cjh/sd
KEYWORD: DIVIDENDS
2006 AAP Information Services Pty Limited (AAP) or its Licensors.
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