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Registration for E-Dividend is free – SEC

By on February 10, 2016

The Securities and Exchange Commission (SEC) on Monday said it is free for investors to register for the electronic dividend (e-dividend).

Speaking during the first day of sensitisation programme on e-dividend registration in Lagos, Head of Department, Market Development of SEC Mr.  Henry Rowlands said investors do not have to pay to register for the e-dividend and enjoy the numerous benefits. He said the Commission has made it free for now for all investors to work to their banks or registrars to register for the e-dividend.

According to him, in a proactive move to fortify the ongoing efforts towards enlightening the investing public with a special focus on retail investors, the Commission sensitisation train had to move to Lagos after commencing in Abuja last month.

He stressed on the need for investors to key into the programme, saying “the e-dividend registration is one of the key initiative being anchored by SEC to ensure dynamic and transparent market capable of responding to the socio-economic aspiration of the nation at this difficult time.

According to him, as  part of efforts aimed at implementing the  10  year Capital Market Master Plan, the e-dividend is targeted to eradicate the difficulty encountered by investors.

Rolands said the electronic payment regime will bring about timely receipt of dividend by investor as well as give clear understanding of how well the companies are performing.

He explained that the four–day enlightenment programme will end with a Town Hall on Thursday.

“In addition to creating awareness of the e-dividend initiative this forum also aimed at addressing all questions that investors may have on the registration exercise. The forum is expected to be attended by all stakeholders including regulators both in the capital and money markets, market operators and the general public,” he said.

According to the commission, market women and men have shown great enthusiasm on the programme, commending the new engagement strategy.

A trader at Oyingbo market, Mr. Adeniyi Bello  expressed  delight on the commission interface, saying “this is  a welcome strategy because we have all give up on our dividends long time ago but this information by SEC has given us hope, one have to run to his bank.”

 

[ThisDay]