Can I have my dividend paid directly into my bank account?

Yes, you should either contact First registrars or complete a mandate form obtainable from the Registrars office or through download from our website http://www.firstregistrarsnigeria.com

How can I find out how many shares I hold?

You can determine the number of shares you hold by adding up all your share certificates and holdings in CSCS, referring to your recent dividend warrant, or by contacting First Registrars.

What are dividends?

Dividends are payments out of operating profits by a company to shareholders and are paid net of withholding tax(Currently 10%). It may be paid once a year (final dividend) or twice a year (interim & final dividend). We have however, seen cases when dividend are paid three times. (1st Interim, 2nd Interim & Final).

What is meant by 'Ex Dividend' and 'Cum Dividend'?

Prior to announcing year-end results of companies, dates are set out for the Closure of Register of members for the purpose of payment of dividend and issue of scrip popularly known as 'Bonus'. These dates will determine the qualification for dividends and scrips.

Hence, "cum div" or "cum scrip" means purchases before the Closure of Register will be entitled to all the benefits payable on the investment while "ex div" or "ex scrip"means purchases made after the entitlements were declared.

Conversely, if you sell your shares before the Closure of Register, you sold so to say "cum div" and "cum scrip" and hence you will not enjoy the dividend or scrip to be issued at the coming AGM. The reverse is the case when you sell your share "Ex Div" and Ex Scrip"

I have not received my dividend. What should I do?

Please contact the Registrar immediately either in writing or in person.

My dividend warrant is out of date and is now invalid. What should I do?

Please contact the Registrar to have it revalidated. Please note that dividend warrants are valid for six months from the date of issue.

I have found an old uncashed dividend warrant. What can I do?

Dividend warrants are currently valid for six months from the date of payment. After this time you should return any uncashed warrant to First Registrars for revalidation free of charge.

What happens if I lose my dividend warrant?

If you lose your dividend warrant you should contact First Registrars as soon as possible, confirming where payment has been lost. We will arrange for the warrant to be stopped and issue you with a duplicate free of charge. However, upon recovery you are expected to return the original one to the Registrar.

I receive multiple sets of Annual Reports/Accounts. Why is this and what should I do?

If shares are bought at different times, the registration details given to the Registrar may differ slightly on each occasion. This can result in the Registrar opening additional shareholder accounts for you. If the names are the same, Please write to the Registrar requesting us to consolidate or merge your shareholder accounts. Note to indicate the various account numbers and your signature must be duly signed.

What are the key rights of a shareholder?

Shareholders have the right to receive dividends (if payable), to receive key company information (such as Annual Reports /Accounts), to attend Annual General Meetings or Extra-ordinary General Meetings and to Vote and be voted for on certain affairs of the company.

What are Share certificates?

These are evidence of your ownership of the shares and represent your interest in the company.

I have not received my Share Certificate, what should I do?

Please contact the Registrar in writing. Perhaps the share certificate has been returned unclaimed.

I have several share certificates of a particular company. Can I make them one?

Yes. You need to send the share certificates to the Registrar with a covering letter explaining your request. The Registrar will then issue you with a single share certificate representing the total number of shares you own.

What should I do if I cannot locate my share certificate?

If a share certificate is lost, stolen or destroyed, notify the Registrar immediately so that a "caution" can be placed on our records to prevent transfer of ownership to another person. In order to replace your certificate(s),

•  You need to execute an indemnity form at your expense to protect all parties against the possibility that the lost certificate might return to circulation. You will also need to arrange for a further guarantee by a clearing bank or a recognized insurance company.

•  Also you are expected to obtain a sworn affidavit showing loss to the certificate.

Can I sell shares that are in my children's names?

Legally, a child under 18 years of age may not have shares registered in their own name. Usually, if shares are purchased on behalf of a child, they are registered in the name of a guardian who is free to deal on the shares on behalf of the child.

What should I do if I have changed my name?

Provide the Registrar with the following documents:

•  Photocopy of marriage Certificate and original for sighting

•  Original Sworn affidavit in case of change of family name.

•  Original Bankers confirmation of signature bearing passport photograph of Shareholder and duly endorsed by the Bank (where necessary to change signature)

What should I do if I wish to transfer my shares to someone else?

Please contact your Stockbroker.