Nigerian companies to implement new dividend payment solution

[img_assist|nid=8347|title=|desc=|link=none|align=left|width=100|height=100] Shareholders of Oando Plc, one of the Nigeria’s foremost petroleum marketing companies are now paid their dividends on an electronic basis. Companies using the newly introduced electronic dividend payment system can directly pay the shareholders dividends to their respective accounts through the internet. Such an approach is found more efficient because it eliminates the necessity of printing and mailing dividend warrants which often leads to losses.

The main impetus to implement the system of the kind was the need for more secured dividend payment process. With the currently working warrant payment system, Moreso, many losses occurred which are ascribed to inefficiency of the system, poor logistics management and inadequate update of personal data on the part of the shareholders.

“The payment system represents our organisations commitment to providing innovative solutions and services to our shareholders needs. We are committed to ensuring that every didvend payout to our shareholders is devoid of unclaimed issues,” says Mr Wale Tinubu, CEO of the company.