₦airaland Forum

Good evening everyone.

Please how are dividends paid, is it yearly or just a one off payment?

I'm asking these due to discovery that my uncle bought some shares, and he's deceased now. His son got to know about this when he visited the SEC website.

After submitting a court order requesting for his assets, the stocks brokers just wrote the units bought i.e 7000 units, without any monetary value.

Now, his dad bought the shares around 2004/2005, and has never gotten any dividends.

So the question is will the dividends for the lost years be calculated to know what the shares worth now or will the units be calculated for the present stock alone, without considering the other 12 years??

Please stock brokers in the house... Help out

It depends on the company but mostly dividends are paid quarterly. When I had GT shares I got my dividends quarterly.
So Yes you can go and claim his accumulated dividend from the year he bought ( if he has not collected some already) till date. They LL work it with the company's percentage as the percentage varies from company to company.

You'll also need a current account to pay in the check because dividends are paid in checks. So youll need an account that accepts check to pay your dividends otherwise the check will just be there and you can't cash it because it's not an open check.


As for the shares, to make money from it, you have to sell it and it will be calculated according to today's value and not with what amount he bought it.
Let's say if he bought it at 1 naira per share and as at today the share has appreciated to 3 naira, you'll sell at 3 naira meaning more money. But if he bought at 27 naira per share and as today it has depreciated to 2 naira, if you sell, you'll sell at a loss.


. First go to the bank and make inquiries about the type of account you need to open to pay in your dividends and tell them you're a third party that the owner is dead let them guide you on what to do.

Hope this helps

So it has to be current account for dividend to enter right. Cos in my mandate I was asked for my account number for my dividends to be paid but I submitted my savings account and and eventually when I was replied, I got a message saying irregular signature.

Jewessgratitud3:
It depends on the company but mostly dividends are paid quarterly. When I had GT shares I got my dividends quarterly.
So Yes you can go and claim his accumulated dividend from the year he bought ( if he has not collected some already) till date. They LL work it with the company's percentage as the percentage varies from company to company.

You'll also need a current account to pay in the check because dividends are paid in checks. So youll need an account that accepts check to pay your dividends otherwise the check will just be there and you can't cash it because it's not an open check.


As for the shares, to make money from it, you have to sell it and it will be calculated according to today's value and not with what amount he bought it.
Let's say if he bought it at 1 naira per share and as at today the share has appreciated to 3 naira, you'll sell at 3 naira meaning more money. But if he bought at 27 naira per share and as today it has depreciated to 2 naira, if you sell, you'll sell at a loss.


. First go to the bank and make inquiries about the type of account you need to open to pay in your dividends and tell them you're a third party that the owner is dead let them guide you on what to do.

Hope this helps

Babbyad:
So it has to be current account for dividend to enter right. Cos in my mandate I was asked for my account number for my dividends to be paid but I submitted my savings account and and eventually when I was replied, I got a message saying irregular signature.

Well.. during my time in 2008 /10 before the Market crashed, dividends were paid in checks. I don't know if they now do E-payment cos the word has gone digital.

Try and find out from your bank to get latest info on that.

Jewessgratitud3:
It depends on the company but mostly dividends are paid quarterly. When I had GT shares I got my dividends quarterly.
So Yes you can go and claim his accumulated dividend from the year he bought ( if he has not collected some already) till date. They LL work it with the company's percentage as the percentage varies from company to company.

You'll also need a current account to pay in the check because dividends are paid in checks. So youll need an account that accepts check to pay your dividends otherwise the check will just be there and you can't cash it because it's not an open check.


As for the shares, to make money from it, you have to sell it and it will be calculated according to today's value and not with what amount he bought it.
Let's say if he bought it at 1 naira per share and as at today the share has appreciated to 3 naira, you'll sell at 3 naira meaning more money. But if he bought at 27 naira per share and as today it has depreciated to 2 naira, if you sell, you'll sell at a loss.


. First go to the bank and make inquiries about the type of account you need to open to pay in your dividends and tell them you're a third party that the owner is dead let them guide you on what to do.

Hope this helps

Thanks....will visit the bank

Thanks..

Jewessgratitud3:
Well.. during my time in 2008 /10 before the Market crashed, dividends were paid in checks. I don't know if they now do E-payment cos the word has gone digital.

Try and find out from your bank to get latest info on that.