Investors in Port Harcourt are divided over the issue and free e-dividend registration sponsored by the Securities of Exchange Commission (SEC) nation wide since 2016.
In an interview with The Tide in Port Harcourt, Monday, a shareholder Mr. Monday Isiguzo said views of SEC in embarking on the free e-dividend payment registration was good but the process of moving from one register to the other makes it cumbersome for businessmen and women who must go for what they are pursuing on daily basis.
According to Isiguzo who is an entrepreneur in Port Harcourt, “I have tried to register before now but I am yet to succeed because of the demands of my registrars concerning irregular signature.
“I am also disturbed about my dividend warrants piled up in my file while I lack money to put into my business that has gone down”.
He called on the regulators to ensure that the process of recovering the dividend warrants by laymen were made simple, adding that this will encourage investor that has lost hope to continue with the process.
He also called on SEC to allow indefinite registration, adding that if today’s deadline is adhered to, many people would lose their shares.
Another shareholder, Mrs Chidi Sam Obialor told The Tide that she would soon give up on the process adding that all her shares were bought in her maiden name.
Obialor said that it had been hell trying to apply for the change of name on her dividend warrants, saying that the requirements posed challenge to venturing into the stock buying business, which has not paid off one bit.
In his contributions Dr. Johnson Baridedum said that SEC deserved an applause for accepting to embark on the process and also sponsoring the registration, adding that the payment of money may have discouraged the shareholders that have gained little or nothing on their investment.
Baridedum noted that e-dividend registration was the best thing that happened to shareholders who did not get their dividend warrants until the expiry date of the warrants.
He said that direct payment into the investor’s account would take care of the huge amount of money in the hands of the companies under unclaimed dividend.
Dr. Baridedum called on shareholders who are to register to do so before the deadline, adding that the programme is a step in the right direction.
