The UAE’s Securities and Commodities Authority (SCA) has launched a new service that helps shareholders check if their names are among those entitled to dividends in an easy and simplified manner.
The service aims to ensure that shareholders of locally listed public joint stock companies claim dividends dating back to March 2015. The service will not provide the value of the dividends pending, only whether there are any.
Shareholders whose names appear in the search results can go ahead and submit their payment request to Abu Dhabi First Bank, which will examine the request, determine entitlement, and transfer the dividends to the shareholder within five business days of its receipt of the required documents, in line with the procedures and requirements specified.
With this launch, the SCA is looking to enhance awareness among entitled shareholders, urge them to submit payment requests and familiarise them with the steps and procedures they must follow to claim their dividends.
The service can be accessed through the SCA’s website at www.sca.gov.ae.
