The Securities and Exchange Commission (SEC) has said over N30billion has so far been paid to investors in the Nigerian capital market from the backlog of unclaimed dividends. As a means to further reduce the unclaimed dividends profile and curb its growth in the country, the Commission has notified the investing public that it will continue to underwrite the cost of E-Dividend enrolment till 30th June, 2018.

According to a statement by the SEC “With a view to ensuring all investors benefit from the E-Dividend programme free of charge, the SEC had committed to pay the cost of enrolment throughout the year 2016, and had resulted in getting about 48% of investors to enroll for the e-dividend payments. Arising from this exercise, over N30 Billion which was hitherto unclaimed have so far been credited to respective Bank Accounts of Investors.” It said the advantage of the e-dividend is not only to enable investors collect subsequent dividends electronically but it allows all accrued dividends be credited to investors’ bank accounts.