How To's

How to Fill Prudent Registrars e-dividend Form

The Prudent Registrars E- dividend form is also known as the E-Dividend mandate form. It is an Electronic form that allows Shareholders to receive their Dividends, directly from the Bank.

Dividends are the proceeds of monetary investment, in form of profit, issued to a Shareholder after every annual year in a Business organization.

By filing the form, you are compelling your Registrar, to stop paying your Dividend, in cash but instead, for it to be wired into your Bank Account.  This Service is expected to be free of charge.

Read Also: Problems And Prospects Of Electronic Banking In Nigeria

How to Fill Prudent Registrars e-dividend Form
Registrar E-Dividend Form – Photo Source: https://firstregistrarsnigeria.com/

A Prudent Registrar E-dividend form, is necessary to allow for investors to account for their Dividend in order to ensure it is not missing.

Information Technology has made it possible for Electronic e-dividend. This allows the Investor to give instructions to the Registrar, to eliminate the physical system of Dividend, to allow for access online.

This online transaction will enable for an Investor, to get his or her Dividend, credited into the Bank account. This kind of Electronic Transaction is necessary for convenience, and to reduce fraud or theft.

Read Also: The Impacts of Banking Industry on Nigeria’s Economy

This form as arising due to Electronic Dividend (E-dividend), was introduced to forestall the rising incidence of unclaimed dividend in the Nigerian Capital Market.

The Form is a mandate issued to investors, for completion and take to the Bank for signature Verification.  Shareholders have made complains about not getting their dividends.

This could be as a result of changing residence. They claim that the Dividend warrant has not been collected, because the Registrar had it posted to the former address.

Most Registrar issue E-mandate form. During the annual reports, there are pages where the form is attached. There are forms for Bonus and Dividend.

If there is Bonus, approved at Annual General Meeting, instead of the Paper certificate, the majority may not receive it because of non-notification of the correct address.

The Registrar will be transferred into the central Securities Clearing System, statement of account, when the investor successfully completes the registrar E-Dividend Form.

This form is issued by the Registrar for investors to complete, and take to their Banks for Signature verification. The Bank is expected to approve the verification with a stamp and then returned d to the Registrar for execution.

Read Also: The Role of the Banking Sector in Economic Growth of Nigeria

The E-Dividend form is very safe and convenient to use, for the investor. This is becoming an easier way to obtain your dividends.

It will save a lot of time and resources, and allows the investor to control his or her dividends, online. It also for investors, to make use of other services that will enable them conveniently have access to their Dividends, online.

Every Registrar has his or her own Dividend form. For example at a Registrar firm called the Africa Prudential, the form is barely a page long.

This is to make the process less stressful and easy for the investor. A prudent registrar E-dividend form is expected to be straight forward and very easy to understand.

There are steps to follow when wanting to fill a Prudent Registrar E-dividend form. One must carry out the following:

1. Go to your certified Registrar’s web site where you can download the Form. Most Registrar have their E-dividend form online, for investors to fill. This makes it more easy and convenient.

2. Make sure you write your information all in bold letters. This is to enable for better reading and clarity.

3. On the Form, mostly on the right hand side is provision for passport photograph. Write your name at the back and attach your passport firmly on the form. Use gum rather than clip so as the Passport Photo does not come off.

Read Also: Problems And Prospects Of Rural Banking In Nigeria

4. Make sure you give accurate information on where you have Shares from the different Companies. This will be indicated in the form.

Make sure you tick the Companies indicated on the form, to confirm where you have Shares. If you can’t find the Companies on the list stated on the form, write your companies’ name in the box, made available below the list.

5. Make sure you fill the form applicable to you. This includes Bank Verification Number, the name of your Bank, your Account number, and Account opening date.

6. In the Share older Section, fill information about yourself, your gender, name and Address, or if the shareholder, is a Company name, indicate the name instead.

Previous Addresses can also be indicated for proper documentation. Add your Clearing House Number if available. Provide also your email and phone numbers.

Do not forget to sign your form with you Signature if you are an individual. If it’s a Company name, a Director in charge can sign.

7. Take the form to your Bank for Signature Verification. Bear in mind that only clearing Banks are accepted. Confirm from your Bank if possible.

8. The Bank in showing approval after the verification, must have the form stamped and must be returned back to the Registrar, who will ensure the Electronic Transaction. The Registrar will ensure that you can receive your Dividends and transfer it to your Bank Account, online.

Read Also: How to Do GTBANK Online Banking: Everything you Need to Know

Conclusion

A Prudent Registrar E-Dividend Form is a standard mandate Form, to pay Bank Account of the Investor. The Form is an instruction from the Investor, to the registrar. This is usually attached to Annual Reports.

Completing the Form, you are mandating the Registrar to stop paying physical Dividend, which is cash to pay into the Bank Account. When the Dividend, arrives, the Bank Account of Investor, will be credited.

The Registrar will inform the Investor, that the Dividend has been credited into his or her Bank Account. Having to control your Dividend, will enable the Investor, to have access easily without having your Dividend stolen or burnt down by Fire.

Key Words: E-Dividend, Signature, Bank Account, Investor, Verification, Account Number, Share Holder, Company, Clearing House, Information, Registrar, Documentation, Signature, Director, Individual, Transfer, Transaction, Email, Annual General Meeting, Capital Market, Annual Report, Investment, Online, Electronic, Theft, Fraud, Fire, Instruction.

References

Obuh Providence, E-Dividend Mandate’ii Reduce Unclaimed Dividend – Shareholders. >Vanguardngr.Com>Assessed On 1st June, 2018.

IMPORTANT!: Follow us on Instagram @InfoGuideNigeria
Click here to Read Latest School News in Nigeria

Copyright Warning!

We work really hard and put a lot of effort and resources into our content, providing our readers with plagiarism-free articles, original and high-quality texts. Contents on this website may not be copied, republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. Proper acknowledgement include, but not limited to (a) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes, (b)"FAIR USE" in the case of re-publication on online media. About possible consequences you can read here: What are the consequences of copyright infringement? In an effort to protect our intellectual properties, we may report your website to Google without prior notice and your website be removed from search engines and you may receive a strike. All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
Tags

Cynthia Juwah-Ogboi

Cynthia Juwah-Ogboi is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close