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SEC removes timeline for unclaimed dividends

SEC removes timeline for unclaimed dividends

The Securities and Exchange Commission (SEC) has said there is no timeline yet for shareholders to claim their dividends. Acting Director-General of SEC, Ms.

Mary Uduk said the commission is giving shareholders time to source for their documents and present same to claim their dividends. She was speaking in Lagos at the weekend while briefing newsmen after the Capital Market Committee meeting. She said Nigerians who bought shares before 2008 used multiple names which they no longer remember. “This is why we have removed the issue of timeline so people can have enough time to look for their documents and then regularize their shares,” she added.

“This e-dividend initiative that we are embarking on is also a way of improving the economy because if through the e-dividend initiative, unclaimed dividend is reduced, people have more money in their pocket through the dividends and this would impact on the economy.” Acting Executive Commissioner (Operations), Isyaku Bala Tilde, urged shareholders to complete the form which “would be taken to the bank to verify that you are an account holder; you don’t need another banker’s confirmation.”
SOURCE: https://www.dailytrust.com.ng/sec-removes-timeline-for-unclaimed-dividends.html