GBOLABO AFUWAPE
Zenith bank has reported N5.832 billion unclaimed dividend representing 65.63 percent growth from N3.521 billion recorded in 2017 .
This figures in the 2018 full year financial report of the bank shows that the campaign by the Securities Exchange Commission (SEC) has not been effective.
It will be recalled that SEC in 2017 announced the creation of electronic dividend (e-dividend) registration, which was aimed at allowing investors approach their Banks or Registrars, to seamlessly mandate their bank Accounts for the collection of their Dividends electronically, including unclaimed dividends.
President of Progressive shareholders association of Nigeria (PSAN), speaking with InsideBusiness in a telephone interview on Monday, berated the effectiveness of the E-Dividend scheme of SEC.
“The low turnout of the shareholder to collect their dividends owe to shareholders not knowing that they have such money out there or that they don’t have access to these information from SEC” he said.
He challenged SEC and the respective firms with unclaimed dividends to show more seriousness by going the extra mile to get intouh with these investors so that the rising figures of unclaimed dividend will decline
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