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Pawche  
#1 Posted : Wednesday, August 4, 2021 3:32:39 PM(UTC)
Pawche

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GE completed a reverse stock split after the close of business on Friday, July 30, 2021. The post-split shares started trading at the start of business on Monday, August 2, 2021.
This is a simple stock split in the accounting software. Be sure the split ratio is 1 for 8. This ratio will reduce your number of GE shares. (Be careful not to enter a split ratio of 8 for 1, as that will increase your GE shares owned. You can always edit, or delete and re-enter the transaction if you make this mistake.)
With a reverse split ratio of 1 for 8 it is likely you will have Cash-in-lieu of fractional shares. This should be included in the Stock split entry screen. Check your broker statement or online transactions list for the amount of this cash received.
GE paid a $0.01 dividend per pre-split share on July 26, a few days before the effective date of the stock split. Be careful not to confuse the dividend with the Cash-in-lieu from the stock split.

Russell Malley

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