Odd Lots (fewer than 100 shares)
If you are one of the millions of investors who had the original AT&T stock back in 1984, before the breakup, you may still be sitting with odd lots of the various spin-offs. For some people, it’s been a headache!
You may recall that the initial breakup resulted in each investor receiving varying numbers of shares in Bell Atlantic and Ameritech, Pacific Telsis and Southwestern Bell, NYNEX, Bell South, and US West. At that point, most people didn’t know what to do with these odd lots. And, they still held AT&T stock albeit lower in value and were faced with the question: what should we do? But, this was hardly the complete question.
Some of the so called “baby Bells” began to merge and some had their own spin-offs and for those investors who “stayed the course,” new odd lots were added to their account. But, AT&T itself wasn’t done with divestitures. In 1995, AT&T spun off its research arm in the form of Lucent Technology stock and there you were again with more odd lots of companies with strange names. In 2000, they were at it again and you probably received odd lots of AT&T Wireless. But, wait, there’s more.
In 2002, Lucent spun off one of its subsidiaries, Agere Systems, to its stockholders, many of whom were in the original AT&T family. And, to complicate the picture further, Lucent issued Class A and Class B stock, once again odd lots for most people. I think you see the picture! Is patience a virtue? Do good things come to people who wait or does opportunity pass by those who delay decisions?
I’m not sure there’s a moral to this story but there’s sure a way to answer the question and capitalize on the “odd lots” which you may be holding, not just from the original AT&T but from many other corporations who spun-off subsidiaries.
Donate these odd lots to The University at Albany Foundation. First, you will receive a charitable deduction for the market value of the shares you contribute. Second, you will avoid paying the commissions to sell these odd lots, commissions that frequently are a bit more expensive. Third, you’ll “clean-up” your account statements and will have finally made a decision. But, most importantly, you will have supported your alma mater and the good work to which it is dedicated – a first rate higher education. And, you can designate your gift to a purpose of your interest.
For more information, please contact the Office of Gift Planning.