- MTN Nigeria has released details of how to claim dividends accruing to its shareholders
- The company said about 9,500 shareholders have claimed their dividends which were declared on March 2023
- The telecommunication company released links and methods of claiming dividends
According to MTN Nigeria, in its annual report, over 9,500 shareholders have yet to claim their dividends.
Dividends are the annual returns a firm pays to shareholders, and unclaimed dividends are the profits yet to be appropriated by shareholders.
MTN releases names of shareholders
MTN’s shareholders whose names appear in its Register of Members are also entitled to a final dividend of N10.00 per 2 kobo ordinary shares paid on March 27, 2023.
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The Investor Education and Protection Fund (IEPF) was established under Section 205C of the Companies Act, 1956, through the Companies Act of 2013, to advance investors’ awareness and protection of investors’ interests.
Per the Companies and Allied Matters Act (CAMA), dividends not collected six months after declaration will be deemed unclaimed. Still, investors have 12 years to make claims before becoming statue-barred and forfeited.
The Federal Government can use unclaimed dividends
The Nigerian government can borrow unclaimed dividends for seven years via the Unclaimed Dividend Trust Fund.
The Nigerian government can use the loan to finance the budget deficit in the country.
TheCable reports that MTN says claiming dividends is straightforward.
Shareholders can claim dividends via the MTN website and follow the prompts from the drop-down menu.
They can also claim their dividends via the issuing house, Coronation Registers’ website.
Coronation Regitras is the financial services company keeping the records of MTN shareholders.
Shareholders can fill out the E-Mandate form to commence their dividends payment process. The form would ask for shareholders’ bank details such as BVN, phone number, bank account number, and date of birth.
Shareholders should use the correct link while filling out the form to avoid being defrauded.
GTBank, Dangote, MTN on list of 10 most profitable companies in Nigeria
Legit.ng reported that Guaranty Trust Holding Company Plc, the parent company of Guaranty Trust Bank, has emerged as the best company in Nigeria for 2022.
Despite earning less revenue, GTCO recorded the feat ahead of heavyweight contenders like Dangote Cement and MTN Nigeria.
According to data posted by Staitisense, a data-driven company, Guaranty Trust Bank (GTCO) recorded N490.13 billion, but its profit margin is 34.53%.