Phuthuma Nathi is looking for its shareholders who have not claimed their dividends between 2006 and 2024. Over R240 million in dividends have not been claimed.
Phuthuma Nathi has been running a campaign to make shareholders aware of these unclaimed dividends since 2020. It included social media, radio and TV, print and online newspapers. The campaign also includes calling these shareholders using the contact details on the record and using tracing agency services.
Although some of the shareholders have been found, there is still a large number who have not claimed their dividends.
Since the campaign started, more than R118 million in unclaimed dividends has been paid out to shareholders.
Phuthuma Nathi is committed to doing everything in its power to find shareholders who have not claimed their dividends and pay them what is rightfully theirs.
Reasons for unclaimed dividends
When Phuthuma Nathi declares and pays a dividend, the money is automatically paid into the shareholder’s trading account.
Some of the shareholders forget to update their bank account and personal details, which means no payment can be made to them. In these circumstances, a shareholder’s trading account will be suspended for security reasons until it is verified with the shareholder.
In other instances, shareholders have passed away and Phuthuma Nathi cannot reach their next of kin.
These challenges are not unique to Phuthuma Nathi – many listed companies experience similar issues with shareholders not updating their personal details and contact information and becoming lost over time.
How to claim your unclaimed dividends
If you are one of the shareholders who are yet to claim their dividends or you know anyone who owned Phuthuma Nathi shares and has not received dividends between 2006 and 2024, please contact the Phuthuma Nathi call centre on 086 011 6226 between 07:00 and 18:00 or email [email protected].
Identification documents, proof of bank account and other supporting documents may be required as part of the FICA verification process.
Unclaimed dividends are paid within 3 to 5 working days after a shareholder has completed the claims process.
It is important to note that dividends can only be paid after the shareholder has sent all the documents required and all the necessary verification processed have been completed.
To ensure that paid-out dividends go to the right person, Phuthuma Nathi works closely with its transfer secretary, Singular Systems, to verify the identity of shareholders and to confirm the legitimacy of shareholder claims. Payment is only made once the shareholder’s identity and bank account details have been confirmed and verified by Singular Systems.
About Phuthuma Nathi
Phuthuma Nathi is the broad-based black economic empowerment share scheme of MultiChoice South Africa which was started in 2006 and owns 25% of MultiChoice South Africa.
It is a truly broad-based scheme, with more than 75 000 black shareholders from diverse backgrounds including domestic helpers, gardeners, professionals, stokvels, and small businesses.
It is recognised as one of the most successful Broad-Based Economic Empowerment schemes in South Africa. Since 2006, Phuthuma Nathi has received R19.1 billion in dividends from MultiChoice SA.