Investors Encouraged to Collect Overlooked Dividends Through FAB by SCA Instructions
In an effort to ensure investors can access dividends dating back to before March 2015, the Securities and Commodities Authority (SCA) in the UAE has streamlined the dividend collection process through First Abu Dhabi Bank (FAB). This initiative is part of the SCA's ongoing efforts to safeguard shareholder rights.
To claim outstanding dividends, investors need to contact FAB as their custodian or intermediary, who manages their securities accounts. The process typically involves submitting a formal claim or request to FAB, which then liaises with the SCA or the issuer of the dividend on your behalf.
The documents required for claiming outstanding dividends usually include proof of identity, investor details, share certificate or ownership proof, a dividend claim form or official request, Power of Attorney (if applicable), and any other documents FAB or the SCA requires. These may include bank account details for dividend payment or a notarized affidavit in cases of lost share certificates.
Customers are advised to contact FAB's investor relations or securities services department directly for the specific claim form and the precise document checklist. FAB will help you navigate the process, ensure compliance with SCA and regulatory requirements, and facilitate the release of outstanding dividends to your bank account.
Shareholders can submit claims through FAB's online "Investment Banking - Unclaimed Dividends" service. If a complaint is not resolved by FAB, investors can escalate the matter to the SCA at [email protected]. It's important to note that the email service for shareholder complaints does not affect the 10-business-day processing time for unclaimed dividends.
The SCA is committed to ensuring the dividend collection process aligns with shareholder expectations and the UAE government's vision of delivering world-class services. The authority continues to work closely with FAB to ensure the successful recovery of unclaimed dividends.
This service is available on FAB's website. The dividends are from shares that have not been claimed since before March 2015. The SCA urges investors to claim any outstanding dividends, and FAB provides an email service for shareholders with complaints or concerns about unclaimed dividends.
[3] For authoritative and exact instructions, contacting FAB or consulting the SCA website is recommended, as the exact procedure can vary and regulations under authorities such as the SCA in the UAE can be detailed.
- To claim dividends dating back to before March 2015, investors must contact First Abu Dhabi Bank (FAB) as their custodian, as the SCA in the UAE has streamlined the dividend collection process through this bank.
- The process of claiming outstanding dividends typically involves submitting a formal claim or request to FAB, which will then liaise with the SCA or the issuer of the dividend on your behalf.
- It is advisable for investors to consult the SCA website or contact FAB directly, as the exact procedure can vary and the rules under the SCA can be detailed.
