SEC: Electronic-Dividend registration to continue

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The Securities and Exchange Commission (SEC) on Tuesday said the electronic-dividend registration exercise would continue seamlessly in spite of the expiration of the December 31, 2017 free registration deadline.

SEC had undertaken to pay the cost of the enrolment for e-dividend since 2016 and gave December 31, a 2017 as deadline for the free registration.

Speaking in Abuja yesterday, Acting Director General of SEC, Dr. Abdul Zubair, said that all investors that are yet to enroll, are enjoined to continue with the registration exercise at a marginal cost of N150 only.

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 as the N150 would not be demanded from them at the point of registration.

“For the avoidance of doubt, the N150 fee would not be demanded from the investors at the point of registration and/or submission of completed e-dividend mandate forms.

In his comments, Director External Relations of the SEC, Mr. Henry Rowlands disclosed that the SEC has consulted with other stakeholders to ensure that the process is seamless, adding that investors should entertain no fear of being charged until their registration is approved.

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