Non-receipt of dividend

[Southie]

Re: Non-receipt of dividend

@Silaaj

I believe he is catering to Karachi Stock Exchange investors, who have held stock, and have not collected dividend from the stock for some reason. Dividend warrants (or payments) used to be sent out by companies via registered mail, in the form of a check, to the investor’s registered address. In some cases, if the investor had moved, the warrant would lay unclaimed, and would expire after 6 months. However, you could go back to the company and get the warrant (check) revalidated. I guess this is what this guy is offering. Getting the check revalidated in return for a 15% fee.

But from what I understand, the CDS (central depository system) now mandates that all shares are held in a CDC account under the investor’s name, which means that all dividends are electronically transferred to that account, unless the investor has specified a separate bank account. So not sure if this guy would get a huge market for his services.

Thanks! You explain very well.