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Successful e-dividend policy should end move for establishment of Capital Market Development Fund

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It appears that the e-dividend policy initiated by the Securities and Exchange Commission, SEC is beginning to yield fruits as the value of unclaimed dividend has dropped by N30 billion from over N80 billion in 2016. The Commission had recently stated that over N30 billion 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 did notified the investing public that it will continue to underwrite the cost of e-Dividend enrollment till 30th June, 2017.

It will be recalled that the SEC had stated that with a view to ensuring that all investors benefit from the free e-dividend programme, it had committed to pay the cost of enrollment throughout the year 2016, and had resulted in getting about 48 per cent of investors to enroll for the e-dividend payments.

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