So a lot of Trove users have been asking lots of questions on dividend redemption.
Here is a step by step guide on how to go about this;
Visit the website of SEC via the dividend portal
Once you open the above link, type in the name that was used in opening your brokerage account into the search bar.
The portal then gives you a list of the companies you own shares in and the registrars of those companies. It also displays the brokerage account details. Your account number and account name basically.
Once you follow any of the links attached to any of the registrars. You would be redirected to another portal that displays individual e-dividend forms for all registrars. Alternatively, you can view or download the list here too
Congrats you’re almost done. Simply download the relevant forms and print them out.
On each registrars e-dividend forms there are a list of companies whose processes they manage. You then tick on the fields for the companies you own shares in.
You are to also fill out some other basic details, append your signature and also a passport photograph to the form.
Please Note: If the shares belong to a deceased relative then make sure you have relevant documentation that proves that you are next of kin or acting on behalf of the deceased.
Visit your bank to get them to sign on the form. The banks would also use internal control mechanisms such as checking to verify that your signature tallies with that which reflects on your bank account. All this is done in a bid to verify your identity.
Submit the forms with your registrar. There would be one last check to ensure the document was filled out properly. If everything checks out, you would be informed and that is it pretty much.
Once you are done with steps 1 to 8. The only thing left to do would be to wait.
So there it is. We hope this was helpful in a way for you. If you have any issues claiming your dividends or have any questions with regards to anything you just read.
Do feel free to reach out to us with the details below.
In case you don’t know how to get started, check out this post How to start buying stocks on the Trove app.
For questions/concerns, please email, call or whatsapp us!
For more information visit our website.
Disclaimer: Trove is a financial technology service that allows users place orders for securities via its mobile application. Trove is not a registered broker-dealer or investment advisor and does not provide personalized or individual investment advice of any kind. Nigerian brokerage services are provided by Sigma Securities Limited, a company duly registered by the Securities and Exchange Commission and US equities provided by Drivewealth LLC, member FINRA and SIPC. The product features provided are meant for informational purposes only and are not intended to serve as a recommendation to buy or sell any security. Trove is not in any way affiliated with companies with listed securities and all information is provided strictly for promotional purposes. All investments involve risk and the past performance of a security or financial product does not guarantee future results or returns.