There are several custodial registrations possible. Instead, he bought preferred shares, which paid an annual dividend yield of 10%. TRANSACTION DETAILS Please use another web browser to access this website. I am using Quicken 2017 which I assume has not changed on that transaction from Quicken 2019. Due to low participation, GE ended the Stock Redemption program on November 10, 2016 for GE Stock Direct Investors. To view documents for private transactions, please log into the password-protected Website, Issuers Determination and Communication of traded on an established securities market Status and Issue Price of Newly Issued Debt, Notice to Holders of certain medium-term notes issued by Subsidiaries of the General Electric Company. Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. On August 5, 2014, GE completed the initial public offering (IPO) of its North American Retail Finance business, Synchrony Financial, as a first step in a planned, staged exit from that business. GE shareholders will directly own approximately 24.3% of Wabtec on a fully diluted basis and GE will own common stock and non-voting convertible preferred stock which together represent approximately a 24.9 percent economic interest in Wabtec on a fully diluted basis, up from the 9.9 percent stake that GE would have owned under the originally . Explore a career with us. With this transaction, GE sold a portion of GE Transportation assets to Wabtec, spun off a portion of GE Transportation to GE shareholders and then GE Transportation merged with a wholly owned subsidiary of Wabtec. The date of record for the transaction is February 14th and GE shareholders as of that date will receive ~0.005403 shares of Wabtec for each GE common share owned. GE received approximately $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec nonvoting convertible preferred stock that together represent an approximately 24.9 percent ownership interest in Wabtec. WILMERDING, Pa. and CHICAGO, May 21, 2018 Wabtec Corporation (NYSE: WAB) has entered into a definitive agreement to combine with GE Transportation, a unit of General Electric Company (NYSE: GE). At GE, we are committed to building a more diverse workforce and a more inclusive workplace. Tim WesleyTwesley [at] Wabtec [dot] comclass="spamspan" An analyst with a more pessimistic approach would worry about continued deterioration in the power segment and therefore see the cash from Wabtec as small potatoes compared to what GE could need to realize its restructuring plans while maintaining its current dividend. Our teams have made significant progress in integration planning, and this process has only strengthened our confidence in the value creation potential of the combination. Notice to holders of General Electric Company Series D preferred stock. Ithas also expanded heavily into software and thelucrative business of locomotive upgrades. Fortunately for Buffett, he did not buy common shares of GE stock. Your broker will ask for some basic information about your account, including: Your account number (obtain from your statement or online account), The number of shares you wish to transfer, Whether you hold your shares in DRS (book-entry) or certificate form. $3.9 billion in revenue and $504 million in adjusted EBIT (approximately 13% margin). Please see attached notice for additional details. What's more, the deal has been structured in a tax-efficient manner. Box 1342Brentwood, NY 11717. Note that the in-product QWin 2019 Help for a taxable spin-off would have you enter a Misc Income for the dollar value of the spin-off and an Add rather then Buy for the new shares. Learn how were delivering on our priorities. Broadridge will send you the documents necessary to obtain replacement certificates along with instructions to complete them. A notary stamp is not acceptable when transferring the ownership of stock. The GEs website under the investors tab doesnt have any mention of spinoff of the transportation business to WAB. Let's take a look at both sides of the story. DRIP - You may elect to have your dividends reinvested in any of the following ways: Make the selection via your online account. Based on Wabtec share price of $83.79 on 19-Apr-2018, the last unaffected trading day prior to media speculation regarding a potential transaction, and Wabtec fully diluted share count. Solutions. $78.06, establishes the shareowners cost basis in Wabtec shares going forward. It's one of the oldest and most widely used money market instruments in the U.S. and in markets around the world. Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. If you have lost your share certificates, we can help replace them, by following these steps: Broadridge Corporate Issuer SolutionsP.O. Original Value. By embracing diverse teams and perspectives, we are better equipped to build a world that works. General Electric Company confirms that all distributions made on General Electric Company Series D preferred stock in 2016 constitute dividends for purposes of related IRS Forms 1099-DIV and 1042-S reporting , consistent with the tax disclosure included with the prospectus published in connection with the issuance of these securities. According to the current price, Wabtec is 90.56% away from the 52-week high. I did review the discussion but it didn't help! When does Wabtec pay dividends? Explore the latest stories, news, downloads, and press tools. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. In the transaction, GE received about $2.9 billion in cash as well as shares of Wabtec common stock and Wabtec non-voting convertible preferred stock that, together, represent an approximately 24.9% ownership interest in Wabtec. Box 1342Brentwood, NY 11717. Accordingly, EQ will serve as the transfer agent and registrar for GE Common Stock. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. For GE shareholders who received shares of Wabtec stock as part of the Wabtec- GET Merger, the cost basis in the Wabtec stock received is $78.06 per share, which was the closing price per share on February 25, 2019. GE's innovation engine where ideas become reality to create a better world and deliver differentiated tech across the company's industrial portfolio. Fax: 412-825-1019. Deia Campanellideia [dot] campanelli [at] wabtec [dot] comclass="spamspan" CONFERENCE CALL INFORMATION Is it the same ($73.96) as the shares added on 2/25/19? With best-in-class manufacturing facilities, unmatched digital expertise, always-on global services delivery, and unrivaled product breadth and performance, Wabtec is the rail industrys one-stop shop. GE has the right to increase the portion of the merged company owned by GE shareholders (subject to a corresponding reduction in GE's ownership). If so, you may enroll in the plan in any of the following ways: Make the investment via your online account. On December 2, 2015, as part of the GE Debt Assumption and as a result of the Merger, GE succeeded to GECC and assumed the obligations of GECC under all of GECC's outstanding indebtedness and other financial obligations, including: Commercial paper is short-term unsecured senior debt issued in the open market by both financial and nonfinancial companies with strong credit ratings. Access GEs recent and historic Annual Reports and accompanying materials. GE owns common stock and non-voting convertible preferred stock, which together represent approximately a 24.9% economic interest in Wabtec on a fully diluted basis. Rafael Santana, who served as president and CEO of GE Transportation and is now president and CEO of Wabtecs Freight segment, said: Our shared focus on innovation, collaboration and continuous improvement will enable us to unlock new value for our shareholders, customers, employees and the industry. Visit the companys new website at: www.WabtecCorp.com. GE shareholders own about 24.3 percent of Wabtec on a fully diluted basis. At Wabtec, we help our customers overcome their toughest challenges by delivering rail and industrial solutions that improve safety, efficiency and productivity. Offering a suite of products to help unlock the full potential of additive manufacturing. I'm trying to record the spin-off of Wabtec from GE (using the corporate spin-off transaction) but I continue to get errors. 30 Isabella Street (If your numbers are universal, you bought Wabtec for 73.96/sh and sold the fractional for 72.7631/sh netting a short-term loss of $1.1969/Wabtec share). Access important shareholder information. Hope this helps. DSPP Some companies offer DSPPs, so please visit your online account to determine if a plan is available to you. Please refer to the tax disclosure included in the General Electric Company Series D preferred stock prospectus for additional information. GEs transfer agent, EQ Shareowner Services, sponsors and administers a Shareowner Services Plus Plan that provides methods of purchasing, holding and selling shares in GE stock. However, GE is pre-funding its pension plan to the tune of $6 billion in 2018 by borrowing the same amount. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. Discover how our people & technology are solving global issues, improving lives, and changing industries. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Wabtec has also been notified that it will now be included in the S&P 500 Index. Upon closing, Wabtec shareholders will own approximately 49.9%, and it is planned that GE shareholders will own approximately 40.2%, and GE will own 9.9% of the merged company on a fully diluted basis. Some plans do require that investors own a minimum number of shares prior to participating in a plan. This is a once-in-a-lifetime opportunity to bring together nearly four centuries of collective experience to create a technologically advanced leader with a highly complementary set of capabilities to move and improve the world. Information regarding the directors and executive officers of GE is contained in GEs proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on March 23, 2018, its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 23, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, which was filed with the SEC on May 1, 2018 and certain of its Current Reports filed on Form 8-K. Information regarding the directors and executive officers of Wabtec is contained in Wabtecs proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on April 5, 2018, its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 26, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 which was filed with the SEC on May 4, 2018 and certain of its Current Reports filed on Form 8-K. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. If you keep your stock with your broker in a broker account, you are a "street name" holder and are not directly registered on the company's records as maintained by the transfer agent. It is headquartered in Pittsburgh, Pennsylvania. GE owns common stock and non-voting convertible preferred stock, which together represent approximately a 24.9% economic interest in Wabtec on a fully diluted basis. This communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell, any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. The dividend is payable January 25, 2022 to shareholders of record at the close of business on December 21, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Original Shares. The deal was agreed upon in May 2018. Note that sales are subject to a fee of $10 per transaction plus $0.15 per share sold. Your corporation you own stock in may also support a stock sale plan. Wabtec is a leading supplier of critical components, locomotives, services, signaling and logistics systems and services to the global rail industry. This enhanced capability is expected to drive significant productivity for customers by delivering improved cycle time, lower production costs and better asset performance. The transit portfolio provides highly-engineered systems and services to virtually every major rail transit system around the world, supplying an integrated series of components for buses and all train-related market segments that deliver safety, efficiency and passenger comfort. $1.1 billion of net tax benefit will accrue to the combined company. *Average returns of all recommendations since inception. A registered shareholder is the owner of record on the books of the corporation, generally kept by the transfer agent. 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