Shareholders of the defunct Skye Bank who have not claimed dividends declared by the bank have been advised by the Securities and Exchange Commission (SEC) to do so.
According to the SEC, the dividends are being held in trust on their behalf and claiming the dividends will further help reduce the volume of unclaimed dividends in the market and boost investor confidence.
“Investors that have unclaimed dividends are therefore advised to contact Cardinalstone Registrars to process their dividend payments,” said Mary Uduk, the SEC’s acting Director General.
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Uduk said the Commission has also directed Cardinalstone Registrars and STL Trustees to ensure that all genuine claims of beneficiary shareholders are addressed forthwith.
The Acting DG said that since the company is no longer in operation, the unclaimed dividends have to be made available to their rightful owners, adding that it will go a long way in boosting investor confidence in the market.
“They invested in a company and since the company has gone under, there is no reason why they should not have access to their unclaimed dividends. That is why we are calling on them to take advantage of this opportunity and claim their dividends” Uduk stated
This, the SEC said is part of its investor protection programme as well as its duty to ensure that shareholders get the benefits of investing in the capital market.