Nigeria: SEC Extends Issuance of Dividend Warrants


The Securities and Exchange Commission (SEC) has extended the deadline for the discontinuance of the issuance of dividend warrants to 31st December 2019.

This is to enable relevant stakeholders deliberate on and address all outstanding issues, it said in a statement.

A circular from the commission said its decision was in furtherance of its overriding mandate to ensure that all categories of shareholders and investors were adequately protected.

SEC stated that the e-dividend initiative remains critical to the complete elimination of the phenomenon of unclaimed dividend and that management of the commission encouraged all shareholders yet to do so, to get mandated on the e-DMMS platform before 31st December 2019.

“The assessment revealed that while remarkable progress has been recorded in concerted efforts through robust enlightenment campaigns to mobilize more shareholders to get mandated on the e-DMMS platform, there remains a few pertinent issues that need to be resolved as a precursor to the total discontinuance of the issuance of dividend warrants by registrars,” the SEC circular added.

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Publish date : 2019-03-29 14:29:39

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