Shareholders have received over N1 trillion in dividends from companies in the last 10 years, the President/Chairman of
Speaking at a press conference to announce the ICMR's 5th Annual Conference coming up on
According to him, efforts by regulators and registrars have drastically reduced the level of unclaimed dividends in the nation's capital market, compared to years back when the level used to be in the region of 24 per cent.
He said that the volume may appear huge, especially when compared with the value of dividends being currently declared by companies as against 10 years ago, adding that the N50 billion indicates a commendable improvement.
"The efforts of regulators and registrars have yielded significant results in reducing unclaimed dividends in the market. Some years back the percentage of unclaimed dividends was around 24 per cent. But we have reduced it to below 10 per cent, specifically to 5.05 per cent as at last December. We are still doing more to bring it further down," he said.
Olugbemi, who is also the Managing Director/Chief Executive Officer of
"But last year alone, some of those banks paid dividends of over N30 billion, some over N54 billion. Ten years ago the likes of
Olugbemi said as part of efforts of the registrars to deepen participation in market, the ICMR introduced the annual conference. According to him, the focus of the conference this year is on corporate governance.
He said what makes the capital markets of the advanced economies like those
"The Institute has therefore carefully thought it wise and critical to deliberate on the theme "Developing a world-class capital market: the need to strengthen adherence to corporate governance practices; the role of regulators, operators and investors" in this conference."
Olugbemi disclosed that the key address will be delivered by
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