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Published On: Sat, Jan 20th, 2018

SEC’s e-dividend free registration ends Feb 28

The Securities and Exchange Commission (SEC) has extended period for the free e-dividend registration to Feb. 28, to encourage more shareholders participation in the initiative.

The commission in a statement obtained by the News Agency of Nigeria (NAN) in Lagos, indicated that the extension was part of its developmental role.

It said that the extension became necessary to encourage more shareholders mandate their bank accounts.

The statement said in reviewing the progress of the e-Dividend Registration after the Dec. 31, 2017 deadline, 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 till Feb. 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,” it said.

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