Friday, June 30, 2017 9:02 AM / SEC
Following numerous requests received from the investing public, the Securities and Exchange Commission is pleased to announce that the deadline of June 30, 2017 for discontinuance of issuance of physical dividend warrants has been extended to December 31, 2017. This will mark the end of conventional issue of physical dividend warrants to shareholders of public companies in the Nigerian capital market.
Furthermore, in a bid to curb the growth of unclaimed dividend in the capital market, the Commission will continue to underwrite the cost of e-Dividend enrolment till December 31, 2017.
So far, about 2,200,000 (Two Million, Two Hundred Thousand) investors have mandated their accounts through the e-dividend platform.
The advantage of the e-Dividend is not only to enable investors collect subsequent dividends electronically but it allows all accrued dividends to be credited to investors’ bank accounts. This will stem the rising unclaimed dividend in the capital market.
This decision underscores the Commission’s strong focus on market development and enhancement of investor confidence. 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.
1. Dividend Warrants Acceptance into Savings Accounts
2. CBN Issues Directives on the Removal of Fixed Interest Rate on Credit cards
3. SEC Publishes e-Dividend Mandate Activation Form of Various Registrars
4. E-Dividend will reduce Infractions
5. Implementation of E-Dividend Mandate Management System (e-DMMS) Portal
6. The Launch of the New e-dividend Mandate Management System - TNI Q3/E5
7. CBN Mandates DMBs to Equip All Branches to Treat E-dividend Mandate Form
8. CBN Releases Exposure Draft on Standards and Guidelines on Electronic Channels Operations in Nigeria
9. CBN Releases Exposure Draft on the Guidelines on Transaction Switch in Nigeria
10. Improved Brokers Supervision Will Benefit the Market - TNI Q3/E12
11. Nigerian Stock Market and Dividend Paying Stocks in 2015 - TNI Q3/E11
12. Q2'15 Financials and Level of Compliance - TNI Q3/E10
13. The Launch of the NSE Premium Board and Its Tracking Index - TNI Q3/E9
14. Investors' Protection Fund, Infractions and Adequate Compensation - TNI Q3/E8