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Capital market shareholders call for extension of free e-dividend deadline

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Capital market shareholders have called for an extension of the deadline for free electronic dividend (e-dividend) registration exercise expected to end on Wednesday.

The Securities and Exchange Commission (SEC) had pronounced February 28, as the date for the closure of the free e-dividend registration in the capital market instead of the earlier proposed December 31, 2017 deadline.

But the shareholders, who spoke in a chat with The Guardian, stressed the need for the apex regulator, the sole underwriter of the initiative to extend the deadline to enhance more participation and enrolment on the initiative.

According to them, the level of enlightenment campaign for the programme has been very low especially in the rural areas.

Specifically, the President, Proactive Shareholders association, Taiwo Oderinde, said: “Our group held a meeting yesterday on the e-dividend which SEC proposed February 28th, deadline and we concluded that there is a need for an extension of the date.

“This is because their registration portal has not been functioning well; therefore, we are calling on the acting DG, SEC, for extension of the closing date to enable more shareholders to register.

Also speaking, the Publicity Secretary, Independent Shareholder Association, Moses Igbrude, said: “We are appealing that SEC should extend the deadline by six months or even throughout the year for more people to enrol.

“We have not seen much of the jingles that they promised, and the level of awareness of the programme is low especially in the rural areas; they should promote awareness in these areas.”

Furthermore, Igbrude urged the SEC to collaborate with all the relevant stakeholders in the market, especially the registrars, whose responsibility is to interface directly with the investors for better results.


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