Your Legal Eye:
Do you know that where a dividend declared by a company is unclaimed by the shareholder for a period of 3 months, the company must open an interest bearing account and lodge the unclaimed dividend in it and if the dividend remains unclaimed for a further 12 months period, the unclaimed dividend plus interest accrued should be transferred to the Register of Companies? Sec 73 of Companies Act, 2019, Act 992.
Astute Legal Legends
(ALL Chambers)
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