By Peter OBIORA investadvocate

July 19, 2010 12:20 GMT

 

 

 

Insurance Giants Goldlink Insurance Plc (GICO) and Continental Reinsurance Plc (Continental Re) has reported 8874 unclaimed dividend warrants worth Hundreds of millions of Naira. The list was made available to investadvocate by Sterling Registrars Limited in Lagos Nigeria.

 

 

Continental Re published the list of unclaimed dividend for year 2009; while that of Goldlink was not made known. However, Continental Re and Goldlink reported 5,109 and 3765 unclaimed dividend warrants respectively; making it a total of 8,874 warrants unclaimed by investors.

 

 

However, this report by both insurance firms was made in compliance with Section 382 (1) of the Companies and Allied Matters Act, Cap C20, LFN 2004.

 

 

The document by Sterling Registrars reads thus: “we publish in this booklet, the names of shareholders of the Company who are yet to claim their Dividends.

 

 

Where Shareholders have received dividends after the compilation of this list, the repetition of the names should be ignored.

 

 

Any shareholder whose name appears on this list is requested to contact the Registrar at the address as stated. The Registrar, Sterling Registrars Limited 8^th Floor, Knight Frank Building 24, Campbell Street, Lagos”.

 

 

As earlier reported by investadvocate, Apex Capital Market Regulatory Institution, the Securities and Exchange Commission (SEC) close to two weeks ago wrote Registrars and quoted companies in the Nigerian Capital Market (NCM) to furnish the list of unclaimed dividends in their possession in order to find a lasting solution of tackling same and making sure that investors reap the benefits of their investments as at when due.

 

 

Also, between year 2009 and 2010, it has been reported that the current worth of unclaimed dividends by the Nigerian investors is estimated to be between N17.9 billion as at year 2009 and current in year 2010, unconfirmed reports has it that the figure has risen to about N20 billion.