{"id":33237,"date":"2019-07-14T16:29:37","date_gmt":"2019-07-14T15:29:37","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=33237"},"modified":"2019-07-14T16:29:37","modified_gmt":"2019-07-14T15:29:37","slug":"we-will-continue-to-sensitise-investors-on-e-dividend-uduk","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/we-will-continue-to-sensitise-investors-on-e-dividend-uduk\/","title":{"rendered":"We Will Continue To Sensitise Investors On E-Dividend-Uduk"},"content":{"rendered":"

The Securities and Exchange Commission, SEC has said that it will continue to collaborate with relevant stakeholders to sensitise investors on the need to regularise their multiple accounts as well as claim their dividends.<\/p>\n

Uduk who spoke during an interview in Abuja, weekend, said the Commission has taken various steps to ensure that shareholders benefit from their their investments in the capital Market.<\/p>\n

She said the volume of unclaimed dividend is still huge but the commission is doing a lot to bring it down.<\/p>\n

According to her, \u201cOnly recently, in our determination to reduce the quantum of unclaimed dividends in the Nigerian Capital Market and encourage beneficiaries of deceased investors to step up efforts to claim such dividends, the Commission exposed an amendment to our Rules which reduced the time, processes and costs of the transmission of shares from a deceased to the beneficiary.<\/p>\n

\u201cThe timeline for the transmission of deceased\u2019s shares has been reduced from three weeks to one week. Going by that, registrars shall ensure that shares of a deceased are transmitted within a week of receiving the request from the administrators or executors.This effort will ensure seamless transmission and claim of a deceased\u2019s shares by heirs and administrators.<\/p>\n

Uduk said it is also the quest for investors to get the benefit of their investments that prompted the Commission to release a circular to shareholders of defunct Skye bank to claim all outstanding dividends.<\/p>\n

She said sensitisation efforts are going on with other stakeholders to enlighten members of the public on the need to go and claim their shares through regularization of multiple accounts.<\/p>\n

\u201cIf you cannot claim your shares, there is no way you will be talking about claiming \u00a0your dividends.<\/p>\n

One of the things the Commission has done is to encourage these people to come and regularize their accounts. As I speak about 2.6 million account holders have registered for e-dividend and many can testify that they are getting their dividends promptly\u201d she said.<\/p>

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She also said the SEC has informed shareholders of the defunct Skye Bank that unclaimed dividends declared by the bank are being held in trust on their behalf and urged them to claim their dividends.<\/p>\n

This she stated, will further help reduce the volume of unclaimed dividends in the market and boost investor confidence.<\/p>\n

Uduk said the Commission has also directed Cardinalstone Registrars and STL Trustees to ensure that all genuine claims of beneficiary shareholders are addressed forthwith.<\/p>\n

The Acting DG said since the company is no longer in operation, these unclaimed dividends have to be made available to the rightful owners that are the shareholders, as that will go a long way in boosting investor confidence in the market.<\/p>\n

\u201cThey invested in a company and since the company has gone under, there is no reason why they should not have access to their unclaimed dividends. That is why we are calling on them to take advantage of this opportunity and claim their dividends\u201d Uduk stated<\/p>\n

She stated that the Commission has put in place\u00a0\u00a0a complaint management framework to ensure that investors get attended to promptly.<\/p>\n

\u201cSo, once you approach your registrars for your dividends to be paid and there is reason for complaints, you can always contact the Commission for the issue to be resolved\u201d she added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission, SEC has said that it will continue to collaborate with relevant stakeholders to sensitise investors on the need to regularise their multiple accounts as well as claim their dividends.<\/p>\n","protected":false},"author":6,"featured_media":28513,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[575],"coauthors":[2391],"class_list":["post-33237","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-sec"],"yoast_head":"\nWe Will Continue To Sensitise Investors On E-Dividend-Uduk - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/we-will-continue-to-sensitise-investors-on-e-dividend-uduk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We Will Continue To Sensitise Investors On E-Dividend-Uduk - 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