Nestle Nigeria Plc publishes names of over 17,000 shareholders who are yet to claim their dividends.

Nestle Nigeria Plc has published the names of 17,187 shareholders who are yet to file and receive their dividends, categorizing them under the firm’s unclaimed dividend list.

According to a disclosure sent to the Nigerian Exchange Group Plc (NGX) and seen by Nairametrics, the list of unclaimed dividends for shareholders of Nestle Nigeria Plc will be published in two reputable media houses on 11th of June, 2021. The publication will be made available via the online platforms of The Punch and Guardian newspapers.

Rationalizing this recent action, the firm disclosed that the Companies and Allied Matters Act 2020 had mandated the company to publish the list of unclaimed dividends with names of all intended beneficiaries, in at least two national newspapers.

The recent disclosure by the Nestle Nigeria Plc therefore validates an earlier claim of a surge in unclaimed dividend in Nigeria, estimated to be around N200 billion by an adhoc committee of the Nigerian House of Representatives.

In a bid to manage the high incidence of unclaimed dividends in Nigeria, the Federal Government of Nigeria through the Finance Act 2020 had proposed the establishment of an Unclaimed Dividend Trust Fund, which is to be managed by the Debt Management Office (DMO).

 

What you should know:

  • Nairametrics had earlier reported that Nigerian Breweries Plc had published the names of over 100,000 shareholders who are yet to file and claim their dividends.
  • Nestle Nigeria Plc had earlier reported a profit before tax of N60.6 billion in FY 2020. Sequel to this, a dividend of N35.50 was proposed during the period

See link to the unclaimed dividend list of the company.