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MV Oil Trust Message Board

  • zzzplus6 zzzplus6 Mar 1, 2010 12:46 PM Flag

    Royalty Clawback?

    My brokerage statement is showning about a 55% clawback from the 56 cent January distribution.

    Anybody know what is going on?

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    • What do you mean exactly? They took your distribution back?

      I hold MVO in 2 brokerages and nothing like that happened.

      • 3 Replies to lisahuang54321
      • As of Jan 12 2010, my wife had 3300 shares of MVO. On January 25, 2010 her account received a credit of $1,897.50 (3300 X .575)

        Her February 2010 statement showed a debit of $1, 036.53, leaving her year to date royalties at $860.97.

        She had no other stocks which royalties.

        After a telephone conversation with the broker, I received two emails, set out below. The first makes no sense. The second shows the purported clawback.

        Has anybody else seen anything like this?

        2. Joe,
        In Feb we received updated information from MV Oil regarding tax reporting on the Royalties paid for this account. Client will be receiving a new 1099 showing $1,036.56 as Royalty income instead of $1,897.50. This is why the Feb statement shows the 1,036.56 as a debit because we had to correct it, and unfortunately since it was a back office movement there is no further information on the activity detail.

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