As part of its developmental role, the Securities and Exchange Commission (SEC) has announced an extension of the period for the Free e-Dividend registration exercise till February 28, 2018, to encourage more shareholders mandate their Bank Accounts
According to the SEC, in reviewing the progress of the e-Dividend Registration exercise, after the December 31, 2017 deadline, it was noted that there was still a great influx of shareholders desirous of mandating their Bank Accounts for payment of dividends electronically.
“In light of the foregoing, the SEC, as part of its developmental role, has extended the period for the FREE e-Dividend registration exercise till February 28, 2018, to encourage more shareholders mandate their bank accounts.
“Accordingly, Shareholders that are yet to register should continue to approach their Banks or Registrars to mandate their Bank Accounts for the collection of their Dividends electronically, including unclaimed dividends, not exceeding 12 years of issue” the SEC stated.
Recall that the SEC had announced that the e-dividend registration exercise would continue seamlessly in spite of the expiration of the initial December 31st 2017 free registration deadline.
Dr. Abdul Zubair, Acting Director General of SEC, who made the announcement at a press briefing, said that all Investors that are yet to enroll are enjoined to continue with the registration exercise.
He said: “Such investors should continue to approach their Banks or Registrars, as usual, to seamlessly mandate their Bank Accounts for the collection of their Dividends electronically, including unclaimed dividends, not exceeding 12 years of issue.
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SEC Extends Free e-Dividend Registration
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