In its recently published annual report, MTN Nigeria stated over 9,500 shareholders are yet to claim their dividends. The dividends are the annual returns the company disburses to shareholders, and these unclaimed dividends are the profits yet to be claimed by shareholders.
MTN shareholders whose names appeared in the Company’s Register of Members are also entitled to the final dividend of N10.00 per 2 kobo ordinary shares (subject to necessary deduction of withholding tax) paid on March 27, 2023.
The Investor Education and Protection Fund (IEPF) was established under Section 205C of the Companies Act, 1956 by way Companies (Amendment) Act, 2013 for the promotion of investors’ awareness and protection of the interests of investors. According to the Companies and Allied Matters Act (CAMA), dividends not collected within six months after a declaration by a company are unclaimed, but the investor has 12 years to make claims before it becomes statute-barred and forfeited.
Dividends that are unclaimed over a period of seven years can be borrowed by the government, through the Unclaimed Dividend Trust Fund. This loan can be used to finance the budget deficits in the country.
The process of claiming your MTN shares is simple and straightforward.
You can claim your dividends via the MTN website – www.mtn.ng. On the drop-down menu titled ‘Investors’ tab, click ‘Shareholders’. Scroll down to ‘Unclaimed Dividends’ and follow the prompt.
You can also claim your dividends via the Coronation Registrars’ Website. The first step is to log onto the unclaimed dividends platform on the Coronation Registrars’ website. Coronation Registrars Limited is the financial service company responsible for keeping records of MTN shareholders. Visit here to know more about Coronation Registrars.
Afterward, fill out the E-Mandate form to commence your dividends payment process. The form would require details from you, such as your BVN, bank account, bank account name, phone number, date of birth, e-signature, valid ID, passport photograph, etc. Ensure you are using the correct link whilst filling out the form, to avoid falling victim to cybercrimes or fraudulent activities. coronationregistrars.cloud.processmaker.net/webentry/7/node_2?5&e-mandate
Ensure your correct information is uploaded, and all required documents are attached. Within four days, your unclaimed dividend will be paid, provided your information is correct.