Business
SEC Extends e-Dividend Free Registration
The Securities and Exchange Commission (SEC) has extended period for the free e-dividend registration to February 28, to encourage more shareholders participation in the initiative
The commission in a statement obtained by The Tide source, recently in Lagos, indicated that the extension was part of its developmental role.
It said that the extension became necessary to encourage more shareholders mandate their bank accounts.
The statement said in reviewing the progress of the e-Dividend Registration after the December 31, 2017 deadline, there was still a great influx of shareholders desirous of mandating their bank accounts for payment of dividends electronically.
“In light of the foregoing, the SEC, as part of its developmental role, has extended the period for the FREE e-Dividend registration till Feb. 28, 2018, to encourage more shareholders mandate their bank accounts.
“Accordingly, shareholders that are yet to register should continue to approach their Banks or Registrars to mandate their Bank Accounts for the co!lection of their Dividends electronically, including unclaimed dividends, not exceeding 12 years of issue,” it said.
Recall that the SEC had announced that the e-dividend registration would continue seamlessly in spite of the expiration of the initial December. 31 2017 free registration deadline with a fee of N150.
Acting Director-General of SEC, Dr Abdul Zubair, who made the announcement at a news conference recently, said that all investors that had yet to enroll are enjoined to continue with the registration.
“Such investors should continue to approach their Banks or Registrars, as usual, to seamlessly mandate their Bank Accounts for the collection of their dividends electronically, including unclaimed diVidends, not exceeding 12 years of issue.”
Zubair also announced an extension of the forbearance window for multiple accounts consolidation to March 31.
This he said was to “encourage many more investors to consolidate their multiple subscriptions into one account, the SEC wishes to announce an extension of the forbearance for Multiple Accounts till March 31, 2018.
“Accordingly, investors that bought shares of the same company during public offers, using different names, are allowed till March 31, 2018 to continue to approach their stockbrokers or registrars, to regularise their shareholdings in line with SEC rules on customer identification.
“Thereafter, all shares not regularised shall be transferred, on trust to the Capital Market Development Fund”.
He said that in line with approved rules of the commission, all registrars had been directed to stop the issuance of dividend paper warrants with effect from January 1, 2018.
He said that for the avoidance of doubt, all paper dividend warrants issued up till December 31, 2017, were valid and should be honoured.
Zubair said that banks ana registrars were accordingly implored to note and adhere.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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