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GE/Wabtec Spin off

I have been sitting on this since 2019 because every time I try to enter the transaction I get faulty results. Can anyone tell me how to enter the Wabtec spin-off? I get 1 share of Wabtec for every 186 shares of GE stock.

Answers

  • splasher
    splasher SuperUser ✭✭✭✭
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  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited February 24
    Hi @Janine

    I cannot recall exactly why I took this approach (I likely received some information from a source but cannot recall) but on 2/25/19, I first recorded what the transaction memo field calls a "pseudo dividend" of $ 0.38475 per share of GE stock I held.  And this was entered as a "cash dividend" which increased the cash in the account.  I then recorded a Buy transaction on the same date where I used the cash from the first transaction and "bought" x shares at a price of $76.95 per share.  The memo field I entered for this Buy transaction is as follows "To record "purchase" of WAB at avg of high/low 4-day stock price"

    What I also know is that fractional shares were not issued for this transaction.

    I will see if I can find any other information to support these entries.  Let me know if you have any followups.

    Frankx



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