Futureview's Dividend Recovery Guide
STEPS TO TAKE TO RECOVER UNCLAIMED DIVIDENDS
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11.
Futureview NGX
Exchange
S.
77
B.
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D₂ I, V₁ I, D₂ E, N, D₂
CALCULATING DIVIDENDS
Case Study:
•
.
Assuming Mr X bought 1,000
units of XYZ bank shares in
2012 which declared
dividends every year from
2012 to 2021. Note that tax
is payable
He has 10 years of unclaimed
dividends
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Calculation
•
To know how much dividend
Mr X should receive from
2012 to 2021, multiply the
number of shares held
(1,000) by the dividend per
share declared by XYZ Bank
Assuming the company paid
dividend of N2.00 per unit
in 2012, that is 1,000 X
N2.00. Repeat for each year
then sum it up
10% withholding tax should
be deducted from the
summed up value to give
the amount payable (2000-
200 1,800 for the above
example).
=
2
N
1
L
R
N/B: You may consult your Stockbroker to fill an e-dividend
mandate form and submit to the Registrar
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