In a bid to ensure that unclaimed dividends are cleared, the Securities and Exchange Commission (SEC) at the weekend said there is no timeline yet for shareholders to claim their dividends.
Acting Director-General of SEC, Ms. Mary Uduk, stated this at a news briefing in Lagos at the weekend after the Capital Market Committee meeting, adding that the commission is giving shareholders time to source for their documents and present same to claim their dividends.
According to her, 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”, she said.