Home Business SEC urges defunct Skye bank investors to claim dividends

SEC urges defunct Skye bank investors to claim dividends

- Advertisement -

The Securities and Exchange Commission, SEC, has again reiterated its earlier directives to shareholders of defunct Skye bank to claim their dividend payment.

This the SEC said is part of its investor protection programme and as well as ensure that shareholders get the benefits of investing in the capital market.

- Advertisement -

According to Acting DG, Ms. Mary Uduk in Abuja, the SEC recently released a circular to shareholders of defunct Skye bank to claim all outstanding dividends.

She said, “we have informed shareholders of the defunct Skye Bank that unclaimed dividends declared by the bank are being held in trust on their behalf. This will further help reduce the volume of unclaimed dividends in the market and boost investor confidence.

“Investors that have unclaimed dividends are therefore advised to contact Cardinalstone Registrars to process their dividend payments”.

Uduk said the Commission has also directed Cardinalstone Registrars and STL Trustees to ensure that all genuine claims of beneficiary shareholders are addressed forthwith.

The Acting DG said since the company is no longer in operation, these unclaimed dividends have to be made available to the rightful owners that are the shareholders, as that will go a long way in boosting investor confidence in the market.

“They invested in a company and since the company has gone under, there is no reason why they should not have access to their unclaimed dividends. That is why we are calling on them to take advantage of this opportunity and claim their dividends,” Uduk said.

FOLLOW US ON TWITTER SUBSCRIBE TO OUR YOUTUBE CHANNEL
alltechng
Technology is making life more meaningful, improves productivity... We are tech lovers...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Pound Sterling drops as Boris Johnson faces battle to pass Brexit bill

Sterling fell Friday as investors fret over Boris Johnson’s chances of pushing his Brexit deal through parliament, while Asian markets were mostly down after...

Natural Gas Price Analysis

Natural gas recently broke below the bottom of its ascending channel on the 1-hour chart to signal that a reversal from the climb might...

Japan Sep Core CPI Slows, Energy Costs Down

Japan's annual core consumer inflation rate slowed in September as energy costs turned lower on year, data from the Ministry of International Affairs and...

State Of Emergency – Vital Oil Pipeline Shuttered By Snow Storms

TC Energy, formerly known as TransCanada, has declared force majeure on the Keystone oil pipeline after a snow storm in Manitoba disrupted operations, Reuters reports,...

UNIPORT Supplementary Admission, 2019/2020

We are happy to inform interested candidates that UNIPORT Supplementary Admission for the 2019/2020 academic session has been released. First choice candidates who took...