Shareholder Information

It is a convenient and secure online method of paying dividends directly into the shareholder’s bank account, eliminating the need to print and mail physical dividend warrants, as currently in use.

A shareholder with a bank account (Savings or Current) with any bank, provides his/her accurate account details to the company by completing a ‘Mandate Form’. The dividend is then paid directly into the specified account.

• Increased transparency in the administration of dividend payment.
• Reduced incidence of unclaimed dividends.
• It eliminates the problem of returned dividend warrants due to unnotified address changes by the shareholder to the company.
• The company saves money by not having to write a cheque, use envelopes, or buy postage stamps, i.e. reducing the company’s overhead costs and ultimately, more funds are available to be paid as dividends.
• No more waiting for dividend warrants in the mail or queuing at the bank to make deposits, saving time.
• It can be paid into a savings account.
• Payments are private and more secure.
• Dividends paid are reflected in the shareholders’ monthly bank statements, providing easy tracking.
• Faster transaction tracking and easier report generation.

The Securities and Exchange Commission (SEC), which is the government agency responsible for investor protection, endorses the e-dividend payment.

A mandate form allows the shareholders to provide their bank account details and authorizes the company to pay their dividends into their bank account. The form can be obtained from the Registrar’s office, the Registrar’s website(www.firstregistrarsnigeria.com), the Oando PLC website (www.oandoplc.com) or any branch of First Bank branch near you.

No, there are no extra charges for receiving dividends electronically.

No, e-dividends can be received through any bank, as their clearing transactions are routed through the Nigeria Inter Bank Settlement System (NIBSS).

Shareholders’ accounts are credited immediately, that is, within 24 hours of the dividend declaration.

Yes, you will receive an alert on your mobile phone (mobile phone numbers are requested from the shareholder in the mandate form) when your account has been credited.

The account details given to the Registrars are treated with utmost confidentiality and cannot be used to commit fraud against the shareholder, as signatures are always verified.

Please allow 48hours after the dividend declaration. If you do not receive your dividend within this period, contact the Registrar for assistance.