The Unclaimed Dividends: Implications on the Economic Development of Nigeria

The Unclaimed Dividends: Implications on the Economic Development of Nigeria

Author(s) by Opara Confidence Chinwe, Emenike Kalu O.
Pages 280-283
Keywords Corporate finance, unclaimed dividend, economic development, Nigeria
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Abstract


Over the years, unclaimed dividends have continued to increase in Nigeria. The value of unclaimed dividends in 1999 was just N2.09 billion. Between 2002 and 2013, the unclaimed dividend increased from N5.1 billion to N60 billion. This paper examines the implications of large value of unclaimed dividends on the economic development of Nigeria using desk research method. Adoption of electronic dividend payment method, dematerialisation of share certificates, acceptance of dividend warrants in both savings and current accounts, among others, were recommended.

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