5th October, 2015
Fakrogha told the News Agency of Nigeria (NAN) in Lagos that this would help shareholders to get their dividend warrants electronically as at when due and with ease.
“E-dividend Payment platform is an electronic means of dividend payment through which the Registrar collects the account details of investors, such that whenever a dividend warrant is declared, the payment is paid directly into the investors’ account.
“If the system of E-dividend payment can be adopted by all investors and companies, the rate of unclaimed dividend will drastically reduce,” Charles said.
NAN recalls that the E-dividend Payment platform was introduced in 2008, but the stock of unclaimed dividends is still as high as N5.94 billion.
Fakrogha said stockbrokers and companies could make investors embrace the E-dividend Payment platform better by advising and educating them on its importance.
He urged the regulatory bodies to sensitise the investing public through their numerous campaigns on the benefits accruable to the E-dividend platform, saying that many investors had not much knowledge about it
” To make the E-dividend more acceptable and familiar to the investors, I suggest that more educative and awareness programmes still need to carried out among the investing public.
“And companies should continue to include the form among the annual reports they send to their shareholders, though not all shareholders who see this understands what it meant,” he added.
Meanwhile, the All-Share Index of the NSE appreciated by 45.24 points or 0.15 per cent last week to close at 30,588.41 from the 30,543.17 recorded in the preceding week.
Also, the market capitalisation rose by N16 billion or 0.15 per cent to close at N10.513 from N10.497 trillion realized in the proceeding week.
Honeywell FlourMill led the gainers’ table in percentage terms by 26.09 per cent or 60k to close at N2.90 per share.
Vono products Plc followed with a gain of 16.47 per cent or 14k to close at 99k, while University Press gained 10.19 per cent or 53k to close at N5.73 per share.
On the other hand, Evans Medical topped the losers’ chart in percentage terms by 15.19 per cent or 12k to close at 67k per share.
Portland Paints trailed by 9.51 per cent or 41k to close at N3.90, while Julius Berger dropped 9.26 per cent or N4.08 to close at N40 per share.
A turnover of 1.67 billion shares worth N14.06 billion were achieved in 14,003 deals last week against the 850,09 million shares valued at N9.06 billion achieved in 9,414 deals in the preceding week.
The financial services sector remained the most active, accounting for 1.38 billion shares worth N7.82 billion In 7,435 deals.
The ICT Industry came second on the week’s activity chart, trading 91.92 million shares worth N121.43 million in 49 deals.
NAN reports that the consumer goods sector followed with a total of 67.79 million shares valued at N2.46 billion traded in 2,844 deals. (