Frequently Asked Questions

Dividends are payments out of operating profits by a company to Shareholders. They are paid net of withholding tax (currently 10% of the gross amount). It may be paid once a year (final dividend) or twice/more in a year (interim(s) & final dividend). Dividends are approved by shareholders at Annual General Meetings and by Board of Directors for interim dividends

Prior to announcing year-end results of companies, dates are set out for the Closure of Register of members for the purpose of payment of dividend and issue of scrip popularly known as 'Bonus'. These dates will determine the qualification for dividends and scrips.

Hence, "cum div" or "cum scrip" means purchases before the Closure of Register (or sales after the closure) will be entitled to all the benefits payable on the investment while "ex div" or "ex scrip" means purchases made after the entitlements were declared (or sales before closure).

Conversely, if you sell your shares before the Closure of Register, you sold so to say "ex div" and "ex scrip" and hence you will not enjoy the dividend or scrip to be issued at the coming AGM. The reverse is the case when you sell your share "cum div" and cum scrip"

You should notify us in writing of both your old and new address and, if possible your share account number with your signature duly appended. Alternatively you can download a change of address form from our website. This completed form can either be mailed to us via our postal address, scanned to our e-mail or submitted at any Zenith bank branch closest to you.

Before now, it was the evidence of your ownership of shares in a company and represents your interest in the company. However, share certificates are no longer issued. Shares owned by you are credited into your stockbroking account with Central Securities Clearing System (CSCS)

If shares are bought at different times, the registration details given to the Registrar may differ slightly on each occasion. This can result in the Registrar opening multiple shareholder’s accounts for you. If the names and addresses are the same, Please write to the Registrar requesting us to consolidate/merge your shareholder’s accounts. Note to indicate the various account numbers and your signature must be duly appended. You can download the account consolidation form from our website, and return same to the Registrar.

Shareholders have the right to receive dividends (if payable), to receive key company information (such as Annual Reports /Accounts), to attend Annual General Meetings or Extra-ordinary General Meetings and to Vote and be voted for on certain affairs of the company.

SAR simply means Shareholder’s attention required. The shareholder is to visit the registrar in person.

BCR simply means Bankers confirmation of signature is required. This document is obtained from the shareholder’s banker and forwarded to the registrar with a cover letter.

If you have not found any answer to the question you are looking for, please contact us directly and one of our customer service representatives will get back to you as soon as possible.