Dividends

A dividend is the return received by shareholders, in respect of their investment in shares made in the Company.

When are dividends paid to shareholders?

Dividends are paid on a yearly basis as and when declaration is made by the Board of Directors. It is either credited into the shareholder’s bank account or a cheque is issued in favour of the shareholder.

Why have I not received my dividend during the past years?

A shareholder might not have received his dividend for various reasons as detailed below:

  • change in the residential address of the shareholder;
  • closure of bank account number of the shareholder;
  • wrong dividend disposal instructions given by shareholder.

What happen to the shares / dividend of a deceased shareholder?

Deceased Shareholder(s)
In case of a deceased shareholder, heirs are required to proceed with a transfer of shares (please refer to “Transfer of Shares”), during which process all the unclaimed dividends (stale cheques or otherwise) of the deceased shareholder will be transferred onto heir(s).

What if the dividend cheque(s) is/are lost?

In case the dividend cheque(s) is /are lost, the shareholder will need to fill in an indemnity form (see below) and submit same in original to our office together with the following:

  • Copy of NIC or Passports are accepted (Photo and Signature should be visible; if shares are held jointly, both NICs or Passports are required); and
  • Fee of Rs 100 per lost Dividend cheque.

DOWNLOADS
SIT Indemnity for Lost Cheque
SITLH Indemnity for Lost Cheque

What if the dividend cheque(s) become stale?

In case the dividend cheque(s) has / have become stale, the shareholder(s) will need to send the following to our office:

  • A letter with a request to revalidate the dividend cheque(s) ;
  • All the stale cheques (original); In case of lost or destroyed dividend cheque(s), please refer to WHAT IF THE DIVIDEND CHEQUE(S) IS/ARE LOST?
  • Copy of NIC or Passports are accepted (Photo and Signature should be visible; if shares are held jointly, both NICs or Passports are required);
  • FOR MINORS: Photocopies of Birth Certificates AND their responsible party(ies) must sign on thier behalf.