If you are a Safaricom shareholder and would like to receive your dividend payment via M-PESA, please send an SMS to 534 in the following format: ID Number#Full CDSC account number#Full names, e.g. 12345678#Bxx/B-xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
How do I check my Safaricom dividends?
Visit the UFAA website (https://www.ufaa.go.ke/) for further information. Use your ID number or any other form of identification you used to purchase shares to look up account information. The outcome will reflect if Safaricom has remitted one’s dividend as well as the year in which it was sent.
How do I check my dividend status?
To begin, determine whether you are entitled for dividends. You must have purchased the stocks before the ex-date to be eligible for the dividends (you will be eligible for dividends if you have sold the stocks on ex-date as well).
You will not be entitled for the dividend if you bought the stocks on or after the ex-date.
By following the methods outlined here, you may track the dividends of your stock holdings on Console in Kite web and Kite app.
If you are entitled to dividends and have not received them by the dividend payment date, you must notify the registrar of the company.
The company registrar’s contact information may be found on the NSE website under the ‘Company Directory’ item and on the BSE website under the ‘Corp Information’ tab.
How do I claim money from Safaricom?
With the aforesaid documents in hand, the claimant should undertake the steps below to gain access to the deceased’s funds:
- The documents should be delivered to a Safaricom retail store near the claimant.
- The M-PESA account of the dead user is then frozen to prevent further transactions and protect the estate.
- When all of the paperwork are deemed to be in order, the funds are transferred to the beneficiaries who are entitled to the M-PESA account balances.
- Because the payments are not transferred in any other way, the beneficiaries must present a registered M-PESA account in order to receive them.
- More than KES 266 million is held in M-PESA accounts where the owners may have died. This was in June of 2021.
- Following the August 30 deadline, the money were handed to the Unclaimed Financial Assets Authority (UFAA).
- Safaricom claims that identifying deceased customers from dormant accounts is extremely difficult.
- Most of the time, the next of kin does not claim the money with the operator, owing to the time-consuming process.
- If the funds were sent through the UFAA, claimants should contact the Authority rather than Safaricom.
- Safaricom has been promoting a campaign to encourage heirs to claim their inheritance. To begin the procedure, they could dial *405# before the August deadline.
How do I access Safaricom shares?
Please keep in mind that you will need a CDS account to buy Safaricom shares in Kenya (in fact, you will not be able to buy or sell NSE-listed shares in Kenya without one).
Before we go over each way, let’s go over how to register a CDS account in Kenya (a CDS account is a virtual account that works similarly to your MPESA account and stores your shares).
Step 1: Go to any branch of the Central Bank of Kenya or your favourite stock broker (or even your bank if they offer stock brokerage services)
Step 2: Present the following documentation to your broker (these are the requirements for opening a CDS account in Kenya) (bank or any of the individual stock brokers in Kenya).
- Original National ID/passport (or, if you’re a company, the original incorporation certificate, as well as the directors’ individual IDs/passports and passport-size pictures).
Where do dividends get credited?
If you own stock in a corporation, you’re probably aware of terminology like ex-dividend, dividend record date, book closure start data, and book closure end date. There is a significant distinction between all of these phrases, and as a stock market investor, it is critical that you comprehend them correctly. What is the difference between the ex-date of a dividend and the record date of a dividend? Also, what do the terms “ex dividend date” and “record date” mean? Is it possible to sell before or after the ex-dividend date? To further grasp these phrases, let’s take a look at a live corporate action sheet.
A dividend is a payment made to shareholders from a company’s profits. Dividends are a type of post-tax appropriation that is given to shareholders and is indicated in rupees or percentages. For example, if the stock’s face value is Rs.10 and the corporation declares a 30% dividend, shareholders will receive Rs.3 per share. As a result, if you own 1000 shares in the company, you will earn Rs.3,000 in dividends. But who will receive the dividends, exactly? When a stock is traded on the stock exchanges, buy and sell orders are placed throughout the day. What criteria does the corporation use to determine which shareholders should receive dividends? The record date comes into play at this point.
The dividend is distributed to all shareholders whose names appear in the company’s shareholder records as of the record date. Registrars and transfer agents such as Karvy, In-time Spectrum, and others typically keep track of a company’s shareholder records in order to determine dividend entitlement. The dividends will be paid to all shareholders whose names appear in the RTA’s records as of the end of the Record Date. So, if a firm declares April 20th as the record date, any shareholders whose names appear in the company records as of April 20th will be eligible to collect dividends. However, there is an issue! When I acquire shares, I only receive them T+2 days later, on the second trading day following the transaction date. This is where the term “ex-dividend date” comes into play.
The ex-dividend date really addresses the T+2 delivery date issue mentioned above. The record date is two trading days before the ex-dividend date. Because the record date is April 20th, the ex-dividend date will be April 18th in this situation. If there are any trade holidays between the two dates, the ex-dividend date will be pushed back. What is the meaning of the ex-dividend date? You must purchase the company’s shares before the ex-dividend date in order to receive delivery by the record date and so be eligible for dividends. On the XD date, the stock usually begins trading ex-dividend.
Normally, the registrar will not accept any transfer of share requests during the book closure period. If you buy shares during the book closure or immediately before the book closure, for example, you will not get actual delivery of shares until the book closure period has ended.
The actual payment of dividends is the final stage. The dividend amount will be automatically credited to your bank account if your bank mandate is recorded with the registrar. Your dividend cheque will be mailed to you at your registered address if you own physical shares or if your bank mandate is not recorded. The day on which a dividend is paid will be determined by whether it is an interim or final dividend. In the case of an interim dividend, the payout to shareholders must occur within 30 days after the dividend announcement date. In the case of a final dividend, however, the payout must be paid within 30 days following the Annual General Meeting (AGM).
The key to getting the most out of your dividend experience is to understand the complexities of dividend declaration.
Is dividend directly credited to bank account?
The day on which a company’s dividend payments are mailed to shareholders or deposited to brokerage accounts is known as the payment date. If your bank mandate is recorded with the registrar, the dividend amount will be automatically credited to your bank account.
The Board of Directors of XYZ Ltd declared an Interim Dividend of Rs. 10.00 per Ordinary Share of Re. 4/- each for the financial year ending March 31, 2021, at its meeting today; such Dividends will be paid to those Members entitled to them on Wednesday, March 10, 2021. The Record Date for determining the Members’ eligibility for the Interim Dividend has been established for Tuesday, February 23, 2021.
Why did I not get my dividend?
You were not eligible to receive the most recent dividend payment. The ex-dividend date is the first day on which the stock trades without the dividend factored in. So, if the ex-dividend date was Tuesday 20 April, the dividend would only be paid to investors who purchased their shares on Monday 19 April (or before).
Can next of kin withdraw money?
Taking money from a deceased person’s bank account is against the law. This is true even if you were their power of attorney and had access to their accounts while they were alive. When a person dies, the power of attorney expires.
The account will be frozen once the bank has been notified of the death. If any direct debits or standing orders are being paid from the account such as utility bills you should first tell the providers so that they are aware why the payments have stopped.
If probate is necessary to shut the account, monies from the account can still be used to pay the funeral bill and any inheritance tax (IHT) due before probate is granted:
- To pay for the funeral, send a copy of the funeral invoice to your bank, and they will pay the undertaker directly.
- HMRC’s Direct Payment Scheme is used by most banks and building societies, including National Savings & Investments (NS&I), to pay any IHT.
Who is next of kin in Kenya?
A person’s next of kin is a live relative, a spouse, or someone who can be called in an emergency. Official names, ID numbers, postal addresses, phone numbers, and their link to you are all included in their information.
How can I get USSD code from Safaricom?
What is the best way for me to get access to all of Safaricom’s services? All Safaricom services may be accessed by dialing *456#Ok, which is a consolidated single short code. Our customers may access Safaricom services and products with a single short code, whether they are on Prepaid or Postpaid.
