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Unclaimed dividend stands at N158.44 billion, over N100 billion from unclaimed shares

The figure has been on the increase despite the introduction of e-dividend.

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Lamido Yuguda, Unclaimed dividend stands at N158.44 billion, over N100 billion from unclaimed shares

The total value of unclaimed dividend in the Nigerian capital market closed 2019 at N158.44 billion and over N100 billion of the amount are from unclaimed shares.

This was disclosed by the Securities and Exchange Commission via a report from the News Agency of Nigeria.

The development revealed that the figure has been on the increase despite the introduction of e-dividend, which was introduced by SEC in 2015. From about N100 billion in 2017, it closed 2018 at over N120 billion.

Dividend is company’s earnings, decided and managed by the company’s board of directors, and paid to a class of its shareholders.

The earnings turned unclaimed when a shareholder fails to claim an already paid dividend after six months.

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READ ALSO: Reps to investigate alleged illegal withdrawal of $1.05 billion from NLNG account

Breakdown: The components, according to the report, showed that unclaimed dividends with companies (15 months and above) stood at N119.01 billion.

The ones with registrars amounted to N14.64 billion and unclaimed dividend less than 15 months old stood at N24.77 billion.

Why the figure rises: Head, Office of the Chief Economist, SEC, Mr Okey Umeano, explained that value has been on the increase since the market has been witnessing surge in large number of unclaimed shares.

He said, “The main issue why unclaimed dividend is rising is because we have a large number of unclaimed shares.”

According to him, many investors during the banking consolidation bought shares with different names as well as other people’s names which they were yet to rectify.

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READ MORE: AIICO seeks NSE’s approval for conducting Rights Issue

“As companies declare dividend, those accounts would equally be paid, leading to increase in unclaimed dividend figure.

“The commission introduced a forbearance window for multiple accounts to enable investors that bought shares with different names to regularise their accounts in order to reduce the quantum of unclaimed dividends.

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“SEC gave a window for people to come and rectify the multiple subscription thing.

“Many people have still not been able to claim their own because some of them have forgotten the names they used.

“Some have not been able to prove to their stockbrokers that they are the owners of the shares.

“So, we still have a large chunk of those shares, and anytime dividends are paid, those shares are not claimed and those people don’t get their dividends,” Umeano said.

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Until the number of unclaimed shares goes down, unclaimed dividend problem will continue.

On the way forward, he assured that the commission would continue to put pressure on all the people involved in order to curb the problem of unclaimed dividends.

Umeano called on investors to go and prove ownership of their shares, noting that SEC was not prosecuting anybody.

“SEC has given them amnesty to go and claim their shares and as people are claiming those shares, unclaimed dividends number will go down,” he added.

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Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper. The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference. The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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List of Dividends announced so far in 2020 (August)

List of Dividends announced so far in 2020 (August)

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Dividends announced on the Nigerian stock exchange

As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.

This page will be updated from time to time.

READ ALSO: Updated: Gender Balance, looking at the board composition of top banks on the NSE

Legend

Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.

Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).

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Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).

Calculate Dividends

Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.

You can also scroll sideways to view the rest of the columns if using a mobile phone.

READ MORE: How to read stock market tables

2020 Dividends from companies quoted on the Nigerian Stock Exchange

CompanyDPSDate AnnouncedBonusClosure of RegisterAGM DatePayment DateQualification date
Northern Nigeria Flour Milss PLCN0.15k13th August 2020Nil25th - 28th August 20208th September 202010th September 202024th August 2020
Honeywell Flour millsN0.04k5th August 2020Nil17th - 23rd September 202030th September 202030th September 202016th September 2020
Presco Plc (Updated)N2.00k3rd June 2020Nil20th - 22nd July 20202nd September 20204th September 202017th July 2020
Cornerstone InsuranceNil4th August 20207 new shares for every 30 existing shares13th -17th August 2020NANA12th August 2020
Flour Mills of NigeriaN1.429th July 2020Nil17th August - 21st August 202010th September14th September 202014th August 2020
MTN Nigeria PlcN3.50k29th July 2020Nil17th August 2020NA24tb August 202014th August 2020
Cutix PLCN0.12K29th July 2020Nil16th - 20th November 202027th November 202030th November 202013th November 2020
C & I Leasing PLCN0.20k30th June 2020Nil14th - 16th July 202023rd July 202031st July 202013th July 2020
McNichols Consolidated Plc (Revised)N0.03k1st April 2020Nil2nd - 6th July 202030th July 20207th August 20201st July 2020
Dangote Sugar Refinery PlcN1.10k8th June 2020Nil22nd June 20209th July 2020within 48hrs after AGM19th June 2020
Jaiz bankN0.03k9th June 2020Nil29th June - 3rd July 202016th July 202016th July 202026th June 2020
UAC of Nigeria Plc (UPDATED)N0.10k20th April 2020Nil19th - 22nd May 202015th July 202016th July 202018th May 2020
Prestige Assurance PlcNil4th June 20202 New shares for every 11 existing shares22nd - 26th June 202030th June 2020N/A19th June 2020
Trans-Nationwide Express PlcN0.03k1st June 2020Nil6th - 10th July 202016th July 202020th July 20203rd July 2020
Nigeria Aviation Handling Company PLCN0.30k28th May 2020Nil1st - 3rd July 202016th July 202016th July 202030th June 2020
Skyway Aviation Handling Co. PlcN0.16k1st June 2020Nil17th - 23rd June 202030th June 202030th June 202016th June 2020
11 PlcN8.2528th May 2020Nil30th Sept - 5th Oct 2020to be announcedto be announced29th Sept 2020
Glaxo SmithKilne Consumer Nig. PlcN0.55k22nd May 2020Nil23rd June - 2nd July 202023rd July 202024th July 202022nd June 2020
Airtel Africa0.0313th May 2020Nil6th July 2020Not applicable24th July 2020NA
Caverton Offshore Support Group PlcN0.20k22nd May 2020Nil16th June 202025th June 202025th June 202015th June 2020
Nigerian Breweries Plc (Revised)N1.51k20th May 2020Nil5th-11th March 202023rd June 202024th June 20204th March 2020
BUA CementN1.75k19th May 2020Nil28th Sept - 2nd Oct 202022nd October 202023rd October 202025th September 2020
NASCON Allied Industries PlcN0.40k13th May 2020Nil15th - 16th July 202027th July 202029th July 202014th July 2020
Total Nigeria PlcN6.7113th May 2020Nil5th - 11th June 2020to be announced24hrs after meeting4th June 2020
Cadbury Nigeria PlcN0.49k13th May 2020Nil25th - 29th May 202024th June 202025th June 202022nd May 2020
May and Baker PlcN0.25k13th May 2020Nil27th - 29th May 20204th June 20208th June 202026th May 2020
NPF Microfinance Bank PlcN0.20k11th May 2020Nil17th - 22nd June 202030th June 202030th June 202016th June 2020
Okomu Oil Palm PlcN2.0023rd April2020Nil19th - 22nd May 202028th May 202029th May 202018th May 2020
Lafarge Africa PlcN127th April 2020Nil4th - 8th May 20203rd June 20203rd June 202030th April 2020
Wema Bank PlcN0.04k23rd April 2020Nil7th - 12th May 202018th May 202018th May 20206th May 2020
Union bank of NigeriaN0.25k13th April 2020Nil27th - 30th April 20206th May 20206th May 202024th April 2020
FBN HoldingsN0.38k6th April 2020Nil21st - 22nd April 202027th April 202028th April 202020th April 2020
Lafarge Africa PlcN1.00k6th April 2020Nil4th - 8th May 202026th May 202026th May 202030th April 2020
Ikeja Hotel PlcN0.023rd April 2020Nil2nd - 8th July 202030th July 20207th August 20201st July 2020
NEM InsuranceN0.15k1st April 2020Nil4th - 8th May 2020to be announcedto be announced30th April 2020
FCMB Group PlcN0.14k31st March 2020Nil15th - 17th April 202028th April 202028th April 202014th April 2020
Beta Glass Nigeria PlcN1.67k30th March 2020Nil15th - 19th June 20202nd July 20203rd July 202011th June 2020
Capital Hotel PlcN0.05k26th March 2020Nil20th - 24th April 202027th May 20203rd June 202017th April 2020
Sterling bank PlcN0.03k26th March 2020Nil5th - 8th May 202020th May 202020th May 20204th May 2020
Boc GasesN0.30k26th March 2020Nil8th - 10th June 202025th June 202026th June 20205th June 2020
Fidelity Bank PlcN0.20k23rd March 2020Nil20th - 24th April 202030th April 202030th April 202017th April 2020
Seplat Petroleum Dev. Company Plc0.0523rd March 2020Nil13th May 202028th May 20204th June 202012th May 2020
Julius Berger Nig. PlcN2.75k13th March 20200.0021st to 3rd June 202018th June 202019th June 202029th May 2020
Nigeria Energy Sector Fund (NESF)N75.0010th March 2020Nil20th March 20206th April 202019th March 2020
Access Bank PlcN0.40k6th March 2020Nil15th April 202030th April 202030th April 202014th April 2020
Nestle Nig PlcN45.00k28th February 2020Nil18th - 22nd May 20202nd June 20202nd July 202015th May 2020
Stanbic IBTC Holdings PlcN2.005th March 2020Nil19th - 26th March 202030th June 202018th June 202018th March 2020
Guaranty Trust Bank PlcN2.50k2nd March 2020Nil19th March 202030th March 202030th March 202018th March 2020
United Bank of AfricaN0.80k2nd March 2020Nil16th - 20th March 202027th March 202027th March 202013th March 2020
Transcorp PlcN0.01k28th February 2020Nil18th - 23rd March 202025th March 202027th March 202017th March 2020
MTN Nigeria PlcN4.97k28th February 2020NilFebruary 16, 19008th May 202019th May 202017th april 2020
Transcorp Hotels PlcN0.07k28th February 2020Nil13th-17th March 202024th March 202026th March 202012th March 2020
United Capital PLCN0.50k18th February 2020Nil9th-13th March 202024th March 202026th March 20206th March 2020
Infinity Trust Mortgage Bank PLCN0.035K30th January 2020Nil9th-13th March 20207th May 202014th May 20206th March 2020
Zenith bank PlcN2.50k21st February 2020Nil10th March 202016th March 202016th March 20209th March 2020
Africa Prudential PlcN0.70k25th february 2020Nil9th-13th March 202023rd March 202023rd March 20206th March 2020
Dangote Cement PlcN16.0025th february 2020Nil26th May 202015th June 202016th June 202025th May 2020
January 1, 1970

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Stock Market

STANBIC, NB, UNILEVER record gains, as investors gain N49.88 billion

The Nigerian Stock Exchange’s market capitalization presently stands at N13,165 trillion.

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Nigerian Stock Investors lose N55.17 billion, as Zenith, GTBank and MTN finish lower

The Nigerian Stock Market closed on a positive note today, as the All Share Index gained by +0.38% to close at 25,236.97 basis points as against +1.04% appreciation recorded yesterday.

Its Year-to-Date (YTD) returns currently stands at -5.98%. The Nigerian Stock Exchange’s market capitalization presently stands at N13,165 trillion. Investors gained N49.88 billion today.

Market turnover closed positive as volume moved up by +25.97% as against -0.84% downtick recorded in the previous session. GUARANTY, ACCESS and ZENITHBANK were the most active to boost market turnover. ZENITHBANK and GUARANTY topped market value list

Market breadth closed negative as MANSARD led 15 Gainers, as against 18 Losers topped by IKEJAHOTEL.

READ MORE: Telecoms sector remains resilient as broadband subscriptions climb

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Top gainers

  • UNILEVER up 8.33% to close at N13
  • NB up 5.88% to close at N36
  • STANBIC up 2.42% to close at N33.8
  • FLOURMILL up 2.32% to close at N19.85
  • MTNN up 0.84% to close at N119.5

Top losers

  • IKEJAHOTEL down 9.90% to close at N0.91
  • CHAMPION down 8.97% to close at N0.71
  • UNITYBNK down 8.47% to close at N0.54
  • NEIMETH down 5.00% to close at N1.9
  • BUACEMENT down 0.26% to close at N38.6

Outlook

The Nigerian bourse ended on a positive note on Thursday, in spite of relatively thin market liquidity. Nairametrics envisages cautious buying due to security challenges in major economic hubs around the northern part of Nigeria.

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Stock Market

AIRTEL, SEPLAT, GUINNESS record impressive gains, investors gain N134.5 billion

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION

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Nigerian Stock Exchange

Nigerian Stock market ended Wednesday’s trading session on an impressive note.

The All Share Index gained 1.04% to close at 25,141.48 basis points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.34%. Investors gained N134.5 billion.

Trading turnover, however, closed negative as volume moved plunged by -0.84% as against +17.84% gain recorded on Tuesday. GUARANTY, ACCESS, and ZENITHBANK were the most active to boost market turnover.

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.

AIRTELAFRI leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

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Top gainers

  • SEPLAT up 10.00% to close at N385
  • AIRTELAFRI up 9.20% to close at N380
  • PRESCO up 7.29% to close at N51.5
  • GUINNESS up 6.21% to close at N15.4
  • OKOMUOIL up 3.90% to close at N80

Top losers

  • CHAMPION down 9.30% to close at N0.78
  • ACCESS down 2.29% to close at N6.4
  • BUACEMENT down 0.64% to close at N38.7
  • ETI down 1.20%to close at N4.1
  • ZENITHBANK down 0.59% to close at N16.75

 

Outlook

Nigerian bourse rallied up on Wednesday as blue-chip stocks that include GUINNESS, AIRTELAFRI, turned the All-Share index green, coupled with soaring crude oil prices triggered oil stocks like SEPLAT to appreciate in value. Nairametrics envisages you seek the advise of a certified financial advisor on buying stocks.

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