The “Trust Fund” for unclaimed dividends, now being proposed in Nigeria is going to be another AMCON, with an everlasting mandate. The unclaimed dividends have owners and the companies who paid them are the best place to put the money. Unless this is done, there will always be dividends unclaimed every year, because of how it started in the first place. These new shareholders did not even know they had shares and the accumulated dividends due them will be the first stock of unclaimed dividends. The suggested solution here will not only get rid of the current large unclaimed dividends but will also make any new unclaimed dividends go back to the rightful place, the Companies that paid them in the first place.

Source: The Guardian November 23, 2020 03:22 UTC