Lee explained that many South Africans might not even realise they or their families are owed money from investments. <\/p>\n\n\n\n
Lee noted that there are four main reasons why dividends remain unclaimed. The first one is where people change their banking details, which they had initially given to the listed company, and when the dividends get paid, the details bounce. <\/p>\n\n\n\n
The second reason is that people change their address, whether it\u2019s a work address or their home address, without notifying the company, so they cannot be traced.<\/p>\n\n\n\n
The third reason, Lee explained, is simply a lack of awareness. \u201cA lot of people don\u2019t know how dividends work, so they purchase shares and don\u2019t realise that those shares pay dividends, and they don\u2019t claim them.<\/p>\n\n\n\n
The fourth and most pressing reason concerns deceased estates. Many investors have shares or investments, but the investments remain unclaimed when the person passes away.<\/p>\n\n\n\n
The JSE has now launched a claimant campaign to address these challenges. \u201cWe are inviting members of the public to come forward and check on our portal, which is on our website, whether they\u2019ve got unclaimed dividends,\u201d Lee explained. <\/p>\n\n\n\n
The scale of the issue is significant. Out of the 600,000 shareholders we manage on this campaign, about 52,000 are for deceased estates.<\/p>\n\n\n\n
Lee also explained what dividends are and why updating personal information is critical. \u201cA dividend is a portion of the company\u2019s profits that it is giving back to its shareholders,\u201d she said. <\/p>\n\n\n\n
10,000 matched with unclaimed assets<\/h2>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/05\/jse--e1732627493612-1024x577.jpg\")
<\/a><\/figure>\n\n\n\nFor example, if a person owns 100 shares and the company declares a R10 dividend per share, they are entitled to R1,000 before tax. <\/p>\n\n\n\n
After South Africa\u2019s 20% dividend withholding tax, the shareholder would receive R800. Depending on the company, dividends can be declared quarterly, biannually, or annually. <\/p>\n\n\n\n
However, Lee warned that if your information is not updated, those dividends then become unclaimed dividends, which is why we are sitting with a national challenge of R4.5 billion.<\/p>\n\n\n\n
For those struggling with the claims process, Lee stressed the importance of submitting complete documents. <\/p>\n\n\n\n
\u201cEven though we\u2019ve matched nearly 10,000 shareholders so far, about 5,000 of them have either not submitted documents or not submitted completed documents,\u201d she said. <\/p>\n\n\n\n
\u201cOnce the documents have been submitted and verified, we pay between five and seven working days,\u201d Lee explained.<\/p>\n\n\n\n
According to Lee, the process is not as burdensome as some people think. \u201cAll we need is a copy of your South African ID, proof of address, and proof of banking details. <\/p>\n\n\n\n
\u201cThat\u2019s what we verify, and then we pay what you qualify for directly into your account,\u201d she said, adding that she herself had unclaimed dividends and found the process seamless. However, things become more complex with deceased estates. <\/p>\n\n\n\n
\u201cIn addition to those documents, you will need to submit a death certificate, proof of relationship such as a birth or marriage certificate, and an executor\u2019s letter to verify that you are the rightful beneficiary,\u201d Lee said. <\/p>\n\n\n\n
Without a will, the process becomes even more complicated, making it essential for heirs to engage with the JSE\u2019s claimant campaign.<\/p>\n\n\n\n
Despite the JSE\u2019s efforts, billions of rands are still sitting unclaimed, and many South Africans or their families could be entitled to a portion of it. <\/p>\n\n\n\n
\u201cIt is important for the public to be aware of this. If you just want to check, please call us on 0861-401-105 and speak to the claimant campaign at the JSE,\u201d she said. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Johannesburg Stock Exchange (JSE) has reiterated its concern over the staggering R4.5 billion in unclaimed dividends still sitting idle in South Africa.<\/p>\n","protected":false},"author":92,"featured_media":830478,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[21999,853,22791],"class_list":["post-837759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-johannesburg-stock-exchange-jse","tag-south-africa","tag-unclaimed-dividends"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=837759"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759\/revisions"}],"predecessor-version":[{"id":837785,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759\/revisions\/837785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/830478"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=837759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=837759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=837759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/a><\/figure>\n\n\n\nFor example, if a person owns 100 shares and the company declares a R10 dividend per share, they are entitled to R1,000 before tax. <\/p>\n\n\n\n
After South Africa\u2019s 20% dividend withholding tax, the shareholder would receive R800. Depending on the company, dividends can be declared quarterly, biannually, or annually. <\/p>\n\n\n\n
However, Lee warned that if your information is not updated, those dividends then become unclaimed dividends, which is why we are sitting with a national challenge of R4.5 billion.<\/p>\n\n\n\n
For those struggling with the claims process, Lee stressed the importance of submitting complete documents. <\/p>\n\n\n\n
\u201cEven though we\u2019ve matched nearly 10,000 shareholders so far, about 5,000 of them have either not submitted documents or not submitted completed documents,\u201d she said. <\/p>\n\n\n\n
\u201cOnce the documents have been submitted and verified, we pay between five and seven working days,\u201d Lee explained.<\/p>\n\n\n\n
According to Lee, the process is not as burdensome as some people think. \u201cAll we need is a copy of your South African ID, proof of address, and proof of banking details. <\/p>\n\n\n\n
\u201cThat\u2019s what we verify, and then we pay what you qualify for directly into your account,\u201d she said, adding that she herself had unclaimed dividends and found the process seamless. However, things become more complex with deceased estates. <\/p>\n\n\n\n
\u201cIn addition to those documents, you will need to submit a death certificate, proof of relationship such as a birth or marriage certificate, and an executor\u2019s letter to verify that you are the rightful beneficiary,\u201d Lee said. <\/p>\n\n\n\n
Without a will, the process becomes even more complicated, making it essential for heirs to engage with the JSE\u2019s claimant campaign.<\/p>\n\n\n\n
Despite the JSE\u2019s efforts, billions of rands are still sitting unclaimed, and many South Africans or their families could be entitled to a portion of it. <\/p>\n\n\n\n
\u201cIt is important for the public to be aware of this. If you just want to check, please call us on 0861-401-105 and speak to the claimant campaign at the JSE,\u201d she said. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Johannesburg Stock Exchange (JSE) has reiterated its concern over the staggering R4.5 billion in unclaimed dividends still sitting idle in South Africa.<\/p>\n","protected":false},"author":92,"featured_media":830478,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[21999,853,22791],"class_list":["post-837759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-johannesburg-stock-exchange-jse","tag-south-africa","tag-unclaimed-dividends"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=837759"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759\/revisions"}],"predecessor-version":[{"id":837785,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837759\/revisions\/837785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/830478"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=837759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=837759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=837759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}