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UAE: New e-service channels launched for payback of unclaimed dividends

This initiative is in collaboration with the First Abu Dhabi Bank (FAB)

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Photo: Wam

By WAM

Published: Mon 7 Oct 2024, 4:39 PM

Last updated: Mon 7 Oct 2024, 5:18 PM

An e-service for the payback of unclaimed dividends (dating back to before March 2015) to shareholders of locally listed public joint stock companies was launched by the Securities and Commodities Authority (SCA). This initiative is in collaboration with the First Abu Dhabi Bank (FAB).

The e-service was launched to provide the public with diversified service channels and make it easier and more convenient for them to claim their dividends. This programme aligns with the government's aspirations to improve the quality of government services and be one of the best in the world. This initiative also aims to meet the public's needs and expectations.

The service enables shareholders to submit and track the status of their payback requests using the FAB website. FAB will then study the request and transfer dividends to the account holder within ten business days after completing all the required documents.

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SCA stressed that it will continue working hard to make it easier for investors to get their unclaimed dividends dating back to before March 2015.

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WAM

Published: Mon 7 Oct 2024, 4:39 PM

Last updated: Mon 7 Oct 2024, 5:18 PM

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