Arms urges investors take advantage of extension of e-dividend registration

Arms Securities has urged investors and prospective investors to take advantage of the extension on e-dividend registration by the Securities and Exchange Commission (SEC), to get registered for electronic dividend’s payment.

The SEC recently extended Free E- Dividend Registration from June, 30, 2017, to December 31, 2017.

Arms revealed that the SEC had earlier called for the investing public to take advantage of the on-going free e-dividend registration period.

The SEC had said that the e-dividend is one of the measures to curb the growth of unclaimed dividend in the Nigerian capital market, reiterating that, “all investors are required to register for the payment of their dividends electronically (e-Dividend).

To facilitate the e-Dividend registration exercise, the SEC has provided a platform for all investors to search for their names and ascertain their registration status.

Having clicked on the platform, “All investors, whose name(s) appear, are advised to simply download the registrar’s e-mandate form, fill it, and submit at the nearest branch of their Bank or Registrar to register for the collection of their unclaimed dividends and subsequent dividends electronically, as well as for the proceeds from their secondary market transactions to be credited directly to their preferred Bank Account (Direct Cash Settlement)” Arms Securities counseled.

Arms urged all investors to also note that the 31st of December 2017 when free e=dividend registration will end, also will mark the end of issuance of physical dividend warrants as all dividends will be paid electronically to your bank accounts.

“You will be paid all outstanding dividends up to 12 years within 10 days of mandate approval” Arms Securities assured investors.