TheCable

The Securities and Exchange Commission (SEC) says all shareholders of the defunct Afribank Plc can now come forward to claim their dividends.

In a statement released on Monday, the commission said it is part of its investor protection programme and mandate to ensure that shareholders get the benefits of investing in the capital market.

According to Mary Uduk, SEC acting director-general, the commission is making concrete efforts to ensure that investors get their dividends to reduce the high profile of unclaimed dividends in the market.

“We have informed shareholders of the defunct AfriBank Plc that unclaimed dividends declared by the bank are being held in trust on their behalf,” she said.

“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 Carnation Registrars to process their dividend payments.”

Uduk said the commission had also directed Carnation Registrars and Meristem Trustees to ensure that all genuine claims of beneficiary shareholders be addressed forthwith.

“Since the company is no longer in operation, these unclaimed dividends have to be made available to the rightful owners that are the shareholders.

“That will go a long way in boosting investor confidence in the market. That is why we are calling on them to take advantage of this opportunity and claim their dividends.”

SEC recently directed investors in the defunct Skye bank Plc to claim all outstanding dividends declared by the bank which were being held in trust on their behalf.