The Securities and Exchange Commission announced 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.
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.
All investors in the Nigerian Capital Market are advised to take advantage of this extended grace period by approaching their Bankers or Registrars for enrolment before the deadline.
Find here e-dividend mandate form of different registrars.
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