Unclaimed Dividends: How to Check if You’re Owed R4.5bn from the JSE

Unclaimed Dividends: R4.5 Billion Waiting on the JSE

millions in shareholder payouts remain unclaimed, with South Africa’s johannesburg Stock Exchange (JSE) estimating a staggering R4.5 billion in outstanding dividends this year.

Published: October 27, 2023

Modified: October 27, 2023

This ample sum represents dividends that shareholders are rightfully owed but have not claimed.

The JSE’s estimate highlights a pervasive issue across financial markets: the difficulty in reconnecting shareholders with their entitled payments.

Why Are Dividends Left Unclaimed?

Several factors contribute to this situation. Shareholder details may be outdated, leading to returned mail and undelivered dividend cheques or notifications.

In other cases, shareholders might have passed away, and their beneficiaries might potentially be unaware of the investments or the dividend entitlements.

A failure to update personal data with the company or its transfer secretary is a common oversight.This can happen due to moves, changes in contact details, or simply losing track of investment paperwork over time.

How to track Down Your Unclaimed Dividends

The first step is to identify if you, or a deceased relative, held shares listed on the JSE.

If you believe you are owed dividends, you should contact the relevant company’s transfer secretary. These entities manage shareholder records and can assist in verifying entitlements and processing claims.

For a comprehensive list of JSE-listed companies and their transfer secretaries, the JSE’s official website is a valuable resource.

Additionally, many companies have dedicated investor relations departments that can guide you through the process of claiming outstanding dividends.

The Importance of Keeping Shareholder Information Up-to-Date

Proactive management of your investment portfolio is crucial. Regularly updating your personal details with the companies you hold shares in, or with their appointed transfer secretaries, ensures you receive all communications, including dividend payments.

This diligence not only helps you access the money you are owed but also affirms your status as an active shareholder.

for those managing the estates of deceased relatives,a thorough review of financial documents is essential to identify all assets,including shares and any accrued,unclaimed dividends.

Frequently Asked Questions About unclaimed Dividends

Q: What is the total estimated value of unclaimed dividends on the JSE?
A: the JSE estimates R4.5 billion in unclaimed dividends this year.

Q: Why do dividends go unclaimed?
A: Dividends are frequently enough unclaimed due to outdated shareholder information,leading to undelivered notifications or payments.

Q: How can I check if I have unclaimed dividends?
A: You can check by contacting the transfer secretary of the company in which you hold shares.

Q: Who should I contact to claim my unclaimed dividends?
A: Contact the transfer secretary of the relevant JSE-listed company.

Q: Where can I find a list of JSE companies and their transfer secretaries?
A: The JSE’s official website provides a comprehensive list.

Q: What is the role

Are you aware of the R4.5 billion in unclaimed dividends held by the JSE and SARS?

What are Unclaimed Dividends?

Billions of Rand in unclaimed dividends are currently held by the Johannesburg Stock Exchange (JSE) and the South African Revenue Service (SARS). These funds represent dividends issued by companies listed on the JSE that have not been collected by their rightful owners. Essentially, unclaimed dividends are payments you’re entitled to, but haven’t received – often because of outdated contact details, changes in share ownership, or simply forgetting about them. As of recent reports, over R4.5 billion is currently sitting unclaimed. Think of it as “unclaimed money” rightfully belonging to you.

Why are Dividends Unclaimed?

Several factors contribute to the growing pool of unclaimed dividend payments:

Change of Address: Investors move, change banks, or simply forget to update their details with their Central Securities Depository Participant (CSDP) – typically your broker.

Dematerialization of Shares: When shares are held electronically (dematerialized), dividend payments are frequently enough sent directly to the CSDP, who then distributes them to the investor. If contact data is incorrect, the payment can be held.

deceased Estates: Dividends accruing to deceased estates can remain unclaimed until the estate is settled and the beneficiaries are identified.

Forgotten Investments: Investors may simply forget they hold shares in a particular company,especially after a long period.

Name Changes: Marriage,divorce,or other legal name changes can cause discrepancies in dividend payment records.

How to Check for Unclaimed Dividends – A Step-by-Step Guide

Checking for unclaimed dividends South Africa requires a bit of legwork, but it’s well worth the effort. Here’s how:

1. JSE Unclaimed dividend Portal: The JSE has a dedicated portal for searching for unclaimed dividends. You can access it here: https://www.jse.co.za/investors/unclaimed-dividends. You’ll need to provide your ID number, contact details, and potentially details of companies you’ve invested in.
2. CSDP (Broker) Inquiry: Contact your CSDP (broker) directly. They maintain records of your shareholdings and dividend payments. They can tell you if any dividends are being held on your behalf.
3. SARS eFiling: While SARS doesn’t directly hold unclaimed dividends, they may have records related to dividend tax certificates that can help you trace payments. Log into your SARS eFiling profile and review your tax records.
4. Share Registry Services: Many companies outsource their share registry services to companies like Link Market Services or Computershare. Check their websites for unclaimed dividend searches:

Link Market Services: https://www.linkmarketservices.com/

Computershare: https://www.computershare.com/

1. Unclaimed Beneficiary Locator (UBL): Although primarily for deceased estates, the UBL can sometimes assist in locating unclaimed funds, including dividends: https://www.ubl.gov.za/

Information You’ll Need to Claim Your Dividends

Be prepared to provide the following when claiming your unclaimed dividend money:

South African ID Number: This is essential for verification.

Proof of Banking Details: A bank statement or a letter from your bank confirming your account details.

Dividend Tax Certificate (if available): This can definitely help expedite the process.

Share Certificate (if applicable): For physical share certificates.

Proof of Address: A utility bill or other official document confirming your current address.

Details of the Company: The name of the company that issued the dividend.

Dividend Declaration Number: If you have it, this will help identify the specific dividend payment.

Benefits of Claiming Unclaimed Dividends

Financial Gain: The most obvious benefit – you’re recovering money that is rightfully yours.

Boost to Investment Returns: Reclaiming unclaimed dividend income increases your overall investment returns.

*Tax Implications