Nigeria’s Security and Exchange Commission on Monday, claimed that it had paid over N30billion from Unclaimed dividends to investors. It also said that it was going to continue to underwrite the cost of electronic dividend enrolment till June 30, 2017.
They however did not state how many shareholders were paid dividend and what period the dividends where from.
Nigeria has hundreds of billions in Unclaimed dividends, a situation that arose out of the cumbersome way dividends were paid in the past.“The commission has, however, observed with concern the challenges being experienced by investors in the course of the e-dividend registration and, therefore, commits to further defray the cost of registration till June 30, 2017 to enable investors continue to enjoy the free registration.
“All investors in the Nigerian capital market are, therefore, advised to take advantage of this extended grace period by approaching their bankers or registrars for enrolment before the deadline.”
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