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.
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