JSE launches campaign to return billions in unclaimed dividends
The Johannesburg Stock Exchange (JSE) has raised concern over an enormous amount of unclaimed dividends totaling 4.5 billion rand (over $260 million) that remain in the exchange’s accounts instead of being distributed to their rightful owners.
In an interview with The Money Show, Vuyo Lee, Director of Marketing and Corporate Affairs at JSE, urged South Africans to check whether they or their families are owed these dividends, noting that many may not even be aware of such entitlements.
There are four main reasons dividends remain unclaimed.
- The first is when people change their bank details originally provided to the listed company, causing payments to fail.
- The second occurs when individuals change their residential or work addresses without updating the company, making them untraceable.
- The third is lack of awareness. “Many people do not understand how dividends work. They buy shares without realizing these shares generate dividends, so they never claim them,” Lee explained.
- The fourth and most serious issue involves inheritances. Many investors pass away leaving shares or investments unclaimed.
Billions in unclaimed assets
To address these issues, the JSE has launched a campaign inviting citizens to check its website for unclaimed dividends.
“The scale of the problem is significant. Out of 600,000 shareholders involved in this campaign, around 52,000 are heirs of deceased investors,” Lee said.
According to her, the process of claiming dividends is simpler than many assume. Claimants must provide a copy of their South African ID, proof of address, and bank details. Once documents are submitted and verified, JSE transfers the funds within 5–7 days.
However, in the case of deceased investors, the process is more complex. Claimants must provide a death certificate, proof of kinship such as a birth or marriage certificate, and a letter of executorship confirming beneficiary rights. Without a will, the process becomes even more complicated, making participation in JSE’s claimant campaign critical for heirs.
As we wrote, Moody’s projects South African economy to grow by less than 1.5% a year
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