SEC asks investors to register for e-dividend

The Securities and Exchange Commission (SEC) has asked investors to register for electronic dividend (e-dividend) to ease recovery of investments benefits.

Dayo Obisan, executive commissioner of operations for SEC, made the call during an interview in Abuja on Sunday.

E-dividend is the process of paying dividends due to shareholders through a direct credit into their chosen bank account electronically rather than the issuance of dividend warrant through the postal system.

Obisan said the forms are available on the commission’s website and in some banking halls.

He said the e-dividend will increase liquidity in the capital market and attract investors into the country.

“The forms are readily available on the SEC website, the registrars also have the forms on their websites, even some banks have them in their banking halls,” he said.

“We, therefore, enjoin investors to download the forms, fill them out and submit; if they have any problems, they can readily reach the SEC through our various contacts.

“Once we receive such complaints, we will be able to put them in the right part of what to do to ensure they are mandated for e-dividend.

“Remember that they (investors) are not only going to receive their current dividend. Once they are successfully mandated, past dividends will be paid as well.

“We want investors to be able to get the benefits of their investments as that would also help to attract more investors to the market as well as deepen the market.”