Computershare Shareowner Services can provide immediate answers to questions about your account balances, BHI Stock price – current and historical – and other shareholder information.
Contact Computershare Shareowner Services at 1-888-216-8057.
How do I change my address?
To change your mailing address of record, contact Computershare Shareowner Services at 1-888-216-8057. You may also request a seasonal address to avoid delay in receipt of dividend checks and other material when you’re away from home.
Does Baker Hughes have a Dividend Reinvestment program?
Yes, there is a Direct Stock Purchase and Dividend Reinvestment Plan available through Computershare, Baker Hughes’ transfer agent. Please visit www.computershare.com/investor, or call 1-888-216-8057 to request more information.
Can I have my dividends deposited directly into my savings or checking account?
To have your Baker Hughes dividends deposited directly into your savings or checking account, contact Computershare Shareowner Services, 480 Washington Boulevard, Jersey City, NJ 07310. Your ABA or transit routing number is a nine-digit number usually located at the bottom left-hand corner of checks. Your banking account number is usually located after the ABA or transit numbers.
How can I get a replacement dividend check?
If your dividend check has been lost, call 1-888-216-8057 to request a replacement check.
How do I transfer some or all of my shares?
If you wish to transfer some or all of your shares, or for instructions regarding a deceased owner or transferring ownership to a minor, contact Computershare Shareowner Services at 1-888-216-8057. Indicate the number of certificate and/or book entry shares and/or dividend reinvestment shares to be transferred. Indicate the full name and address of the new ownership(s). Current owner(s) must sign. Current owner(s) have their signature(s) medallion guaranteed by a bank or securities broker that is a member of the Securities Transfer Association Medallion Program, the Stock Exchange Medallion Program or The New York Stock Exchange, Inc. Medallion Guaranteed Program. (Please note that a notary is not acceptable). The Substitute Form W-9 must be completed with the new owner information and returned with the Stock Transfer Request Form. If not included, or incomplete, a Substitute Form W-9 will be sent to the new owner.
How do I get a replacement certificate?
Call Computershare Shareowner Services to report the missing certificate. A stop will be placed against the outstanding certificate until a replacement is issued. A fee will be charged for this service.
What is escheatment?
Escheatment is a common state law that prevents unclaimed property from remaining without ownership, instead transferring it to the state of the property owner’s last known address. It is also a term used to describe how abandoned/unclaimed/lost property is turned over to the state.
Did you know that you must take action to keep your shares of common stock of Baker Hughes Incorporated (BHI) ‘active’ with your bank, broker or BHI’s transfer agent in order to avoid them being turned over as unclaimed property? Read this FAQ to find out more about the escheatment process, and how to avoid this happening to your investment.
What causes escheatment?
If the property owner cannot be found (ie multiple pieces of returned mail) or hasn’t demonstrated an interest in the asset (ie voting the annual proxy statement or contacting the bank/broker/transfer agent on a regular basis), the U.S. state where the holder lives can take custody of those belongings. In the case of Baker Hughes Incorporated’s (BHI) common stock and a foreign shareholder, the stock would be escheated to BHI’s state of incorporation (Delaware).
What property is subject to the escheatment laws?
Escheatable property varies by state and includes a wide range of assets, including but not limited to, dividend checks and underlying shares of common or preferred stock, uncashed wage and expense checks, insurance claims, premiums or payments, and bonds or mutual fund, bank or other accounts for which the issuer does not have a current address of the holder. Once the state considers these assets abandoned over a specified period of time, they must be turned over. This FAQ focuses on your BHI common stock.
What is the time frame for escheatment?
Each state sets its own rules and time frames in its definition of what constitutes unclaimed property. The key element is the definition of ‘dormancy’, which is the period of time that an asset, payment, receivable or other instrument can remain inactive before it can be considered unclaimed. During this period, which typically ranges from three to seven years, a company must take steps to locate the owner of the asset. If it is unable to do so, it must then hand the asset over to the relevant government entity.
Do I receive any kind of notice prior to escheatment?
All states require a ‘due diligence’ mailing to a shareholder before final escheatment; however many states require a mailing only if the value of the assets is $50 or more.
If my shares of common stock have been escheated to the state and I seek to reclaim my property, will it be the original number of shares or a cash value?
While, in theory, property turned over to the state can always be reclaimed by the rightful owner, some states immediately liquidate equities and other asset classes to get their immediate cash value. In these states, the holder is only entitled to reclaim the net proceeds of the sale price at the time of the sale which could mean big losses for holders whose stocks are down and who are banking on holding them for the long term.
How do I avoid escheatment of my BHI common stock?
First and foremost, be sure to update your address with your financial institution (bank, broker or transfer agent for paper certificates). Be sure to contact the applicable institution at least once per year, whether it be by accessing your password-protected account online, calling into the customer service center, writing the financial institution or transfer agent, cashing your dividend checks, updating your address, changing a beneficiary, buying shares, or voting a proxy.
If you receive a notice alerting you to the fact that your account is considered ‘inactive’ or ‘abandoned’, respond immediately. Some third parties such as Keane and Georgeson may contact you, providing assistance in helping to re-activate your account, but you always have the option of handling this directly with your financial institution or BHI’s transfer agent, wherever your shares are held.
Is there a resource to learn more about escheatment and unclaimed property?