Registrars to return all Unclaimed Dividends of 15mths and Above to the Paying firms



Tuesday, June 02, 2015 5.36 AM / SEC


The Securities and Exchange Commission (SEC) yesterday directed all Registrars of Public Companies to return all unclaimed dividends, which have been in their custody for fifteen (15) months and above, to the paying companies.


Registrars are required to file evidence of remittance with the Commission not later than June 30, 2015.


The SEC also hinted that ‘failure to comply’ with this directive shall attract appropriate sanctions without further recourse.


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