South Africa's $4.5 Billion of Unclaimed Dividends: A Guide on How to Verify and Reclaim Your Allocation

The Johannesburg Stock Exchange (JSE) has launched a campaign called 'Claim It' to help investors reclaim their missing funds, which amount to approximately R4.5 billion in unclaimed dividends.

These dividends are from shareholders in JSE-listed companies, and some investors may not even be aware of their entitlements to these funds. Unclaimed dividends represent missed financial opportunities for investors.

The JSE's 'Claim It' initiative allows investors to check if they have funds waiting for them by visiting the JSE's official website. To process a claim, individuals will need to submit a valid South African ID, proof of address, and any supporting documentation related to their investment.

Dividends in South Africa are subject to a 20% tax deduction before they are paid to investors. Consulting with a tax professional is advisable when dealing with dividend tax implications. The South African Revenue Service (SARS) provides detailed guidance on how dividend tax works.

Unclaimed dividends accumulate due to outdated contact details, unclaimed inheritances, banking issues, and investor unawareness. Payments will be processed, and shareholders can receive their rightful funds directly into their accounts.

One of the reasons dividends may not have been claimed is due to specific legal or procedural reasons related to the company or jurisdiction. For example, Sibanye-Stillwater did not pay a dividend for 2024, which could explain why dividends were not requested by South African shareholders.

By raising awareness through initiatives like 'Claim It,' the JSE is ensuring that rightful investors can access their legally owned funds. Act now to ensure that you receive any outstanding dividends that rightfully belong to you.

For more information about financial and investment opportunities in South Africa, keep following our blog. It's important to stay informed and take advantage of every financial opportunity available.

South Africa's $4.5 Billion of Unclaimed Dividends: A Guide on How to Verify and Reclaim Your Allocation